Navman Wireless heading in right direction: Forbes

New Zealand-born tech company Navman Wireless has been named in Forbes' list of the 100 most promising businesses in America.

Although based in Illinois since an international buyout in 2007, with facilities in the US, Mexico, the UK, Italy, Ireland, Taiwan, Singapore and Australia, the company continues to use its Auckland office as a research base.

With annual revenue of US$67.9 million Navman Wireless has the fifth-highest turnover of the 100 businesses on the list, on which it was number 65.

Ian Daniel, Navman Wireless' vice president APAC, says the Forbes nod demonstrates the growing understanding of the value of the company's technology and position in the market.

"Fleet tracking is a relatively new concept outside of the transport industry," Daniel says, "but it's an invaluable tool for minimising fleet costs and maximising productivity and profits.

Daniel says credit for the success must go to the New Zealand development team.

"They translate insights about customer needs into products with strong international appeal.

Go here to view the full list.