11/19/2010 2:00:00 PM
UPS Inc. said Friday it will sell its UPS Logistics Technologies unit to Thoma Bravo, a private equity firm.
UPS Logistics Technologies, Baltimore, creates transportation routing and fleet management software. It will become Roadnet Technolgies after the acquisition closes, UPS said.
The business was founded in 1983 as Roadnet Systems Corp. and UPS acquired it in 1986. The acquisition by Thoma Bravo will not affect other UPS services, the carrier said.
Len Kennedy, vice president of the unit, will become CEO of the Roadnet Technologies.
The sale will close Dec. 31, UPS said. It did not disclose financial terms of the deal.
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