SIMSBURY, Conn. -- The Veeder-Root Co. acquired FuelQuest Inc., a Software as a Service (SaaS) provider for retail and commercial fueling logistics applications. Terms of the transaction were not disclosed.
According to Simsbury-based Veeder-Root, it will combine its Insite360 Fuel business with Houston-based FuelQuest to provide a best-in-class, end-to-end solution for controlling wet stock from rack to nozzle.
"FuelQuest brings valuable SaaS and fuel logistics expertise into Veeder-Root’s Insite360 Fuel services family, enabling us to aggressively accelerate our wet stock management technology roadmap,” said Andrew Hider, president of Veeder-Root. “This expertise, along with Veeder-Root’s market leadership position in automatic tank gauge technology, will provide immediate advantages for any retail or commercial fueling customer looking to improve operational efficiencies in fuel or compliance management.”
The combined SaaS business is also expected to improve the customer experience by offering a full suite of integrated logistics and environmental services.
“FuelQuest has been rapidly growing its customer base by providing best-in-class analytics for fuel logistics with a customer-first approach," said Scott Cilento, chief operating officer for FuelQuest. "The partnership with Veeder-Root’s Insite360 Fuel business will provide opportunities to reach more customers with a complete software, services and hardware solution.”