Global investment firm Thoma Bravo has reached a deal to acquire the vehicle management and reimbursement platforms of two companies, Motus and Runzheimer International Ltd. The newly combined business is established to address the needs of the nearly $2 billion fleet market. Financial terms of the deal were not disclosed.

Motus operates as a vehicle management and reimbursement provider for companies employing workers that drive at least 5,000 business miles per year. The Boston-based business uses a technology-driven and configured engine that incorporates real-time data to help businesses with cost reductions, compliance and reimbursement for employees.

Founded in 1933, Runzhiemer also provides employee mobility management services for corporations and government agencies. The Waterford, Wisconsin-based target offers automated mileage tracking, vehicle reimbursement plans, employee pre-move decision support services and mobile device plan management assistance. The combined business will benefit from Runzheimer’s industry expertise and Motus’ technology-first approach.

“It’s a rare moment in our business when we have an opportunity to simultaneously combine two world-class companies like Motus and Runzheimer,” states Thoma Bravo partner A.J. Rohde. “Combined scale will enable us to invest in new applications, both organically and inorganically.”

Thoma Bravo focuses on software and technology-enabled services, managing funds with more than $17 billion in capital. The San Francisco-based PE firm has made more than 140 acquisitions in the software and technology space since 2003.

As companies have begun to focus on technology and cloud capabilities, companies have steadily grown attractive to dealmakers in the sector. Thoma Bravo itself has remained fixated on its tech and software-focused strategy. In June 2017, the firm bought IT service provider Continuum and purchased Riskonnect Inc., a risk management technology service provider. In September 2016, Thoma Bravo closed a new tech fund with nearly $7.6 billion to focus on more opportunities in the sector. The firm has made several other purchases also, including: parking management provider T2 Systems, secure access software provider Bomgar, software maker Elemica and Qlik Technologies Inc. Thoma Bravo previously won Mergers & Acquisitions’ 2014 M&A Mid-Market Award for Deal of the Year for the firm’s purchase of TravelClick.