Hearst, a diversified media, information and services company, announced Nov. 2 it has agreed to acquire an 80% stake in Noregon Systems Inc., a vehicle solutions provider with an office in Greenville.
Terms for the agreement, which is expected to close by the end of the fourth quarter, were not disclosed.
While Hearst is taking majority ownership of Noregon Systems, the company’s founder and chief executive officer Bill Hathaway will retain a 20% ownership stake and continue to serve as its CEO.
“Bill Hathaway and his colleagues have built a great company that plays a vital and growing role in keeping the trucks on the road that power our economy,” said Hearst president and chief executive officer Steven R. Swartz. “We look forward to partnering with Bill and his team and to welcoming them all to Hearst.”
Noregon’s products include:
- JPRO — an all-makes commercial vehicle diagnostic application
- NextStep Repair — an interactive maintenance guide offering step-by-step instructions to guide technicians through repair issues
- TripVision Uptime — a remote diagnostics platform empowering fleet personnel to operate more efficiently to reduce breakdowns and cut repair costs
The company serves more than 15,000 customers in the U.S. and Canada.
