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.
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Masternaut manages more than 220,000 mostly light utility vehicles under contract. The transaction has been made on the basis of eight times 2018 Ebitda before synergies.
The French supplier maintains the acquisition will:
- Speed up the development of its Services & Solutions business for light vehicles and support the fleet market
- Enable Masternaut to roll out its offering across the whole of Europe by taking advantage of the Michelin network’s geographical coverage
- 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.
“Masternaut represents a further step in the expansion of our Services & Solutions business, especially in Europe and for light vehicle fleets.”
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