Fri Aug 9, 2019
Author: RV News Staff
Tool, equipment and vehicle diagnostics supplier Snap-on announces it acquired Cognitran Ltd., of Chelmsford, U.K., a software company, in a $31 million cash transaction.
Cognitran specializes in flexible, modular and scalable Software as a Service (SaaS) products for automotive, HD, agricultural and RV OEMs and their dealers.
The company and its products will be integrated into the Snap-on Repair Systems and Information Group in support of shop efficiency solutions through integrated upstream services. Cognitran systems are said to integrate OEM and dealer service delivery, diagnostics, parts and repair information.
The acquisition “enhances and expands Snap-on’s capabilities,” the company says.
In addition to its traditional hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle service and repair centers, Snap-on also receives income from various financing programs that support product sales and its franchise business.
Snap-on is a publicly traded corporation headquartered in Kenosha, Wisc.