French tyre manufacturer, Michelin, has agreed to acquire European telematics provider, Masternaut.
This move is, according to Michelin, in line with the Group’s development strategy in the services and solutions business, leveraging the experience it has gained following the Sascar and NexTraq acquisitions in the US.
Masternaut operates mainly in France and the UK; it provides a technical platform to offer on-board telematics solutions to optimise vehicle fleet management and monitoring; and manages over 220,000 mostly light utility vehicles under contract.
“Michelin is consolidating its expertise in telematics, enabling us to optimise customer mobility and respond to the needs of a changing market,” said Michelin General Managing Partner, Florent Menegaux.
“Masternaut represents a further step in the expansion of our services and solutions business, especially in Europe and for light vehicle fleets,” he said.