Fleetmatics Group PLC (NYSE: FLTX), a leading global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS), today announced the acquisition of TrackEasy Oy, a rapidly-growing fleet management software provider in Germany and Poland. Based in Berlin, TrackEasy will add approximately 15,000 vehicles under subscription to Fleetmatics' existing installed base. Terms of the transaction, which closed on November 1, 2016, have not been disclosed.
"Building a presence in mainland Europe has been a strategic goal for Fleetmatics, and with the acquisition of TrackEasy, we believe we have solidified our position as one of the leading competitors in Europe," said Jim Travers, Fleetmatics CEO and Chairman of the Board. "TrackEasy and Fleetmatics share many commonalities including rapid growth and a strong commitment to customer satisfaction, as well as a focus on SMBs."
Germany and Poland represent two strategic markets for Fleetmatics in Europe. Both are large and relatively unpenetrated markets with healthy economies poised for growth. According to leading industry analyst firm Berg Insight1, these countries combined represent close to seven million commercial vehicles. With this acquisition, Fleetmatics' footprint in Europe now includes the U.K., Ireland, France, Italy, Poland, the Netherlands, Germany and Portugal.
All TrackEasy employees have joined the Fleetmatics team and will be driving sales and support of its current TrackEasy solution in Germany and Poltrack solution in Poland. In addition, TrackEasy will begin to offer Fleetmatics' REVEALâ„¢ in early 2017. All products provide world-class vehicle tracking and business intelligence solutions designed to help drive savings and improve productivity for virtually any mobile workforce.
"We're proud of the successful company we have built over the years. Our growing and highly satisfied customer base is proof of our commitment to help businesses across Germany and Poland drive savings and improve productivity," Markku Lappalainen, Group CEO. "By teaming with Fleetmatics, together we will better serve our customers by providing best-in-class vehicle tracking and business intelligence solutions."
Fleetmatics and Verizon Communications Inc. recently announced they've entered into a definitive agreement under which Verizon will acquire Fleetmatics. The acquisition is expected to close in the fourth quarter of 2016.
About Fleetmatics Group PLC:
Fleetmatics Group PLC (NYSE: FLTX) is a leading global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS). Our solutions enable businesses to meet the challenges associated with managing local fleets, and improve the productivity of their mobile workforces, by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data. Fleetmatics Group's intuitive, cost-effective Web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage, and other insights into their mobile workforce, enabling them to reduce operating and capital costs, as well as increase revenue. An integrated, full-featured mobile workforce management product provides additional efficiencies related to job management by empowering the field worker and speeding the job completion process – quote through payment. As of June 30, 2016, Fleetmatics served approximately 38,000 customers and approximately 757,000 subscribed vehicles worldwide. To learn more about Fleetmatics, visit www.fleetmatics.com.
