Michelin to acquire telematics company
Michelin has announced plans to acquire US telematics company, NexTraq.
Based in Atlanta, NexTraq specialises in equipment and logistics management, including fleet tracking, fuel management, maintenance, and asset management data that can be integrated into existing data management software.
“NexTraq represents a strategic acquisition that accelerates our growth in telematics with synergies that increase our scale, expand our geographic footprint and strengthen overall competitiveness in fleet management technology an,” said Ralph Dimenna, Chief Operating Officer for Michelin Americas Truck Tires.
“Telematics and fleet management services are a rapidly growing category worldwide and an important area of Michelin Group’s overall business plans.”
NexTraq currently has 117 employees, about 7,000 fleet customers and 116,000 individual subscribers. The unit will operate independently within Michelin North America, the company said.
The closing of the acquisition is subject to completion of certain customary conditions, Michelin said.