Michelin to acquire Leeds telematics firm
A Leeds-based telematics business is set to be acquired by French tyre manufacturer Michelin.
Founded in 1996, Masternaut specialises in fleet tracking and optimisation, driver behaviour improvement and digital transformation.
The company will continue to operate under its own brand as a fully-owned subsidiary within Michelin.
The deal, Michelin’s third acquisition in telematics, is expected to accelerate the development of its product and service offering to customers, particularly in data science, in areas such as predictive maintenance and operational re-engineering.
“Michelin is consolidating its expertise in telematics, enabling us to optimise customer mobility and respond to the needs of a changing market,” explained Florent Menegaux, managing partner of Michelin.
“Masternaut represents a further step in the expansion of our Services & Solutions business, especially in Europe and for light vehicle fleets.”
Dhruv Parekh, CEO of Masternaut, added, “Over the last four years, I have been incredibly proud of what we have achieved.
“Masternaut Connect today is one of the fastest growing telematics platforms in Europe, with an industry-leading Net Promoter Score.
“Our investment in an enterprise-grade IoT platform has enabled us to launch new products in a scalable way.
“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.”