Veeder-Root Gains SaaS, Logistics Expertise With FuelQuest Deal
Will roll acquired solutions into Insite360 Fuel business
SIMSBURY, Conn. -- The Veeder-Root Co. has acquired FuelQuest Inc., a leading Software as a Service (SaaS) provider for retail and commercial fueling logistics applications.
As reported in a 21st Century Smoke/CSP Daily News Flash, FuelQuest will combine with Veeder-Root's Insite360 Fuel business to provide an end-to-end solution for controlling wet stock from rack to nozzle.
The acquisition demonstrates Veeder-Root's commitment to supporting retail and commercial fueling customers' desire for increased control of their fuel purchases, deliveries, variance, flow, compliance and managed maintenance needs, the company said.
"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."
Scott Cilento, FuelQuest COO, said, "FuelQuest has been rapidly growing its customer base by providing best-in-class analytics for fuel logistics with a customer-first approach. The partnership with Veeder-Root's Insite360 Fuel business will provide opportunities to reach more customers with a complete software, services and hardware solution."
The combined SaaS businesses should improve the customer experience by offering a full suite of integrated logistics and environmental services, the companies said. Enabled by Veeder-Root's industry-leading hardware, this addition to Veeder-Root's Insite360 Fuel portfolio will allow Veeder-Root to deliver continued enhancements in wet stock management technology development to customers.
Houston-based FuelQuest provides software and services to suppliers, distributors, retailers, carriers and fleets that use transportation fuels worldwide.
Simsbury, Conn.-based Veeder-Root is a leading global supplier of automatic tank gauging, fuel management systems and Stage II vapor recovery solutions including the Red Jacket brand of submersible pumps and pressurized line leak detectors. It is part of Greensboro, N.C.-based Gilbarco Veeder-Root, a global technology leader for retail and commercial fueling operations.