[YesAuto Industry] Recently, Michelin announced that it has signed an important agreement to acquire the telematics company Masternaut. The company is one of the largest telematics providers in Europe. Its main operating areas are the UK and France, and it manages more than 220,000 light utility vehicles.
Masternaut can provide equipped with the latest technology platform and provide on-board telematics solutions to optimize fleet management and monitoring. Michelin has not disclosed the amount of the acquisition transaction. According to the announcement issued by Michelin, the acquisition was based on the group's development strategy in the service and solution business and the use of the experience gained after acquiring Sascar and Nextraq in the United States.
For Michelin, the completion of the acquisition will accelerate the development of its light vehicle service and solutions business, and by leveraging the geographic coverage of the Michelin network, Masternaut can launch its products throughout Europe, while at the same time, it can also increase its use The large amount of data enables it to provide customers with the best solutions, improve product performance and develop their data science deployments, such as predictive maintenance.
Florent Menegaux, managing partner of the company, said: “Michelin is consolidating expertise in telematics, enabling us to optimize customer mobility and respond to changing market needs. The acquisition of Masternaut will allow us to further develop our services and solutions business. , Especially in Europe and light vehicle fleets.” (Source: MarketScreener; Compiler/Car Home Li Na)