Michelin to acquire Masternaut for supporting fleet market
Michelin has signed an agreement to acquire the entire share capital of Masternaut, one of Europe's largest telematics providers.
Masternaut operates primarily in France and the UK, providing a technical platform offering on-board telematics solutions to optimise vehicle fleet management and monitoring. The company manages more than 220,000 mostly light utility vehicles under contract.
The French supplier maintains the acquisition will speed up the development of its services and solutions business for light vehicles and support the fleet market, roll out its offering across the whole of Europe by taking advantage of the Michelin network's geographical coverage and increase the volume of data captured, allowing it to offer its customers solutions, improve product performance and develop its data science deployments, such as predictive maintenance.
«Michelin is consolidating its expertise in telematics, enabling us to optimise customer mobility and respond to the needs of a changing market» said Michelin managing general partner, Florent Menegaux.