Michelin acquires Masternaut

Clermont-Ferrand, France: Michelin is to acquire Masternaut in a move that is expected to accelerate Masternaut’s product development and growth across Europe.

Masternaut will continue to operate under its own brand as a fully owned subsidiary within Michelin. The transaction is expected to close within the next sixty days.

Masternaut is one of Europe’s largest fleet telematics service providers with technology for fleet tracking and optimisation, driver behaviour improvement and digital transformation.

This acquisition provides Michelin access to Europe’s rapidly growing telematics market – projected by industry analyst Berg Insight to grow by over 15% per annum in the next five years.

Florent Menegaux, managing partner, Michelin, said: “Michelin is consolidating its expertise in telematics, enabling us to optimise customer mobility and respond to the needs of a changing market. Masternaut represents a further step in the expansion of our Services & Solutions business, especially in Europe and for light vehicle fleets.”

Dhruv Parekh, chief executive, Masternaut, said: “Together with the Michelin brand, we are well-positioned to expand in the connected vehicle industry across Europe. Operating within the Michelin Group accelerates our ability to achieve the vision of a connected world that is safer, cleaner and more productive.”

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