Telematics expert Fleetmatics has announced that it has entered into a definitive agreement to acquire Visirun a SaaS-based provider of fleet management solutions headquartered in Ferrara, Italy.
The acquisition will add approximately 28,000 vehicles under subscription to Fleetmatics’ existing installed base and add an additional 3,000 customers.
Terms of the transaction, which is expected to close in the fourth quarter of 2015, have not been disclosed.
“Italy was a natural next step in our European expansion plans and builds off of our recent entries into The Netherlands and France,” said Jim Travers, Chairman and CEO of Fleetmatics.
“The acquisition of Visirun enables us to scale our European subscriber base while also bringing us important Italian market expertise.”
“For more than six years, Visirun has specialised in the development of GPS fleet tracking solutions designed to help businesses in Italy gain efficiencies, save money and make better decisions with their mobile assets in the field,” said Fabio Previato, founder of Visirun.
“By joining with Fleetmatics, we’ll be able to both share valuable expertise and add additional resources, bringing even more value to the Italian market.”
According to Fleetmatics, Previato will manage the Visirun business in Italy and all the current employees will join the Fleetmatics team. Fleetmatics will continue supporting and selling Visirun solutions in Italy.