Stanford University is set to exit video telematics system developer SmartDrive, which has agreed to be purchased after raising at least $265m.

Fleet management equipment producer Omnitracs agreed yesterday to acquire SmartDrive, a US-based telematics system provider that counts Stanford University among its investors. Although neither company officially disclosed the sale price, Barrons reported that the transaction is set to be sized at $450m. SmartDrive is the developer of a video-based telematics system that captures data covering…

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