Company:Vontier
 | |
| Type | Public company |
|---|---|
| Headquarters | Raleigh, North Carolina, U.S. |
Key people | Karen Francis, Chair of the Board of Directors Mark Morelli, President and CEO Anshooman Aga, SVP and CFO Katie Rowen, SVP and Chief Legal & Sustainability Officer of Vontier |
| Revenue |  $3.184 billion (2022) |
| $546.6 million (2022) | |
| Total assets | $3.140 billion (2022) |
| Total equity | $579.5 million (2022) |
Number of employees | 8,100 (2022) |
| Subsidiaries | Vontier § Strategic Segments |
| Website | vontier |
| Footnotes / references [1] | |
Vontier Corporation (NYSE: VNT) is a multinational industrial technology company that specializes in mobility technologies and alternative energy solutions. Established in 2020 as a spin-off from Fortive Corporation, Vontier consists of diverse portfolio of businesses across the mobility technology, diagnostics and repair, and environmental and fueling sectors. Headquartered in Raleigh, North Carolina, Vontier has a global presence, serving customers across more than 150 countries.[2]
History
In October 2020, Fortive completed the corporate spin-off of 80% of Vontier.[3] Fortive disposed of its remaining 20% ownership interest in January 2021.[4]
In September 2021, Vontier completed its first acquisition, announcing the completion of its DRB Systems acquisition.[5]
In February 2022, Vontier announced its intention to diversify its portfolio towards long-term secular growth drivers including electrification, gaseous fuels infrastructure, network management, and energy storage solutions with a commitment to invest more than $500 million over the next five years to lead in the energy transition. This announcement coincided with the acquisition of Driivz. [6]
In October 2022, Vontier completed the acquisition of Invenco.[7]
In April 2023, Vontier completed the divestiture of Global Traffic Technologies, also known as GTT.
Strategic segments
In March 2023, Vontier announced a new reporting structure to align with its connected mobility strategy and provide greater transparency.[8] Vontier began reporting under this new structure with its first quarter 2023 earnings announcement.[9]
Mobility Technologies:
- Alternative Energy & Sustainable Fleets platform: ANGI provides compressed natural gas, renewable natural gas, and hydrogen fueling solutions. Teletrac Navman provides telematics and fleet management solutions. EVolve bring together technology from Driivz and Sparkion to provide an interoperable electric vehicle (EV) charging and energy management platform for EV charging providers and fleet operators.
- DRB Systems provides point-of-sale, workflow solutions, and data analytics for the car wash industry in the United States.
- Invenco by GVR provides convenience retailers with point-of-sale systems, payment solutions, site automations, workflows, and cloud services.
Repair Solutions:
- Matco Tools is a distribution franchise that provides diagnostics and repair solutions for the automotive and other industries in North America.
Environmental & Fueling Solutions:
- Gilbarco Veeder-Root provides hardware and software solutions for above- and below-ground fueling infrastructure.
Sustainability
In 2022, Vontier released its inaugural Environment, Social and Governance (ESG) Report,[10] which summarizes the company’s goals and sustainability progress since its 2020 launch as an independent public company. Vontier has been named a Best Places to Work for LGBTQ+ employees by the Human Rights Campaign,[11] a Military Friendly Employer,[12] and earning a B score from CDP in 2022.[13]
References
- ↑ "Vontier Corporation 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/1786842/000178684223000011/vnt-20221231.htm#ie38bd399392f403ba7593a8f12ccbc46_49.
- ↑ EANES, ZACHERY (February 21, 2020). "A public company plans HQ move to Raleigh. A small portion of its workers will follow.". The News & Observer. https://www.newsobserver.com/news/business/article240507841.html.
- ↑ "Fortive Completes Spin-off of Vontier" (Press release). Business Wire. October 9, 2020. External link in
|publisher=(help) - ↑ "Vontier Announces Launch of Secondary Equity Offering of Remaining Shares of Common Stock Held by Fortive" (Press release). Business Wire. January 12, 2021. External link in
|publisher=(help) - ↑ "Vontier Announces Completion of DRB Systems Acquisition" (in en). 2021-09-13. https://www.businesswire.com/news/home/20210913005531/en/Vontier-Announces-Completion-of-DRB-Systems-Acquisition.
- ↑ "Vontier Accelerates Portfolio Transformation With Energy Transition Investment Commitment and Acquisition of Driivz" (in en). 2022-02-08. https://www.businesswire.com/news/home/20220208005389/en/Vontier-Accelerates-Portfolio-Transformation-With-Energy-Transition-Investment-Commitment-and-Acquisition-of-Driivz.
- ↑ Veeder-Root, Gilbarco. "Vontier Completes Acquisition of Invenco" (in en). https://www.prnewswire.com/news-releases/vontier-completes-acquisition-of-invenco-301638444.html.
- ↑ "Vontier Announces New Reporting Segment Structure" (in en). 2023-03-20. https://www.businesswire.com/news/home/20230320005603/en/Vontier-Announces-New-Reporting-Segment-Structure.
- ↑ "Inline XBRL Viewer". https://www.sec.gov/ix?doc=/Archives/edgar/data/1786842/000178684223000036/vnt-20230331.htm.
- ↑ "Vontier Releases 2022 ESG Report" (in en). 2022-11-07. https://www.businesswire.com/news/home/20221107005474/en/Vontier-Releases-2022-ESG-Report.
- ↑ "Best Places to Work for LGBTQ Equality 2022" (in en-US). https://www.hrc.org/resources/best-places-to-work-for-lgbtq-equality-2022.
- ↑ "Is Vontier Military Friendly? | Military Friendly". https://www.militaryfriendly.com/is-vontier-military-friendly/.
- ↑ "CDP". https://www.cdp.net/en/responses/864616/Vontier-Corp.
External links
- Business data for Vontier Corporation:
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