Peregrine Systems divests transportation asset management businesses

by Canadian Shipper

Motor carrier fleet management software provider Peregrine Systems has sold its transportation asset management business to Maximus Inc. and its FacilityCenter product line to Tririga Inc.

The move is designed to help the company, maker of the Transportation 5.0 and Fleet Management software suites, reduce its debt and expenses.

Peregrine received $12.5 million from the sales.

Since announcing in early May it may have overstated revenue by as much as $100 million and would restate its earnings for the previous 11 quarters, Peregrine has sold three of its businesses. Earlier this summer, the company sold its supply-chain software division for $35 million to Golden Gate Capital LLC.

Maximus will integrate Peregrine’s products and its 19 employees within its asset solutions division. Maximus produces the FleetFocus software suite.

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