Fortive Corp. (NYSE: FTV), Everett, Washington, has announced that the name of the new global industrial company which is expected to separate from Fortive later this year will be Vontier Corporation. Vontier will focus on transportation and mobility markets and will be comprised initially of a portfolio of leading retail and commercial fueling, fleet management, and professional tools brands, including Gilbarco Veeder-Root, Matco Tools and Teletrac Navman.

Mark D. Morelli, who will serve as president and CEO of Vontier, stated, “The name Vontier comes from a combination of ‘via’, meaning a road or a way, and ‘frontier’, an expression of exploration and the pursuit of further progress. With its portfolio of leading brands and a strong track record of financial performance, Vontier stands to benefit from the continued growth across its established transportation and mobility end-markets. At the same time, the company is well positioned to capitalize on growth opportunities across a range of attractive, adjacent markets and emerging, mobility-related technologies.”