Fleet Complete, a Canadian provider of fleet telematics and mobile workforce technology, has acquired ITmobile, a Dutch fleet telematics business. No financial terms were disclosed. The deal was funded through an equity investment from the management teams of the two companies as well as U.S. private equity firm Madison Dearborn Partners, which bought majority control of Fleet Complete in September 2014. Fleet Complete, which is headquartered in Markham, Ontario, said the acquisition will serve as a base for its growth in Europe. ITmobile is the company’s second add-on deal since Madison Dearborn’s initial investment.
Fleet Complete Acquires ITmobile
Combination creates leading fleet, asset and mobile workforce technology provider in Canada, USA, Netherlands, Belgium and Luxemburg
TORONTO, Jan. 7, 2016 /PRNewswire/ — Fleet Complete, one of North America’s fastest-growing providers of fleet telematics and mobile workforce technology, announced today that it has acquired leading Dutch fleet telematics company ITmobile. Founded in 2000, ITmobile provides nearly 1,000 customers primarily in the Benelux region, with advanced fleet, asset and mobile worker technology to optimize productivity, safety and compliance. The acquisition will serve as a base for Fleet Complete’s high-growth model in Europe, while also providing geographical expansion opportunities to both Fleet Complete and ITmobile’s product suites. Terms of the transaction were not disclosed.
“We are excited about the transaction and look forward to working closely with our ITmobile team in the Netherlands, Belgium and Luxemburg to accelerate our collective growth and Fleet Complete’s European expansion,” said Tony Lourakis, CEO of Fleet Complete. “ITmobile has a long track record of providing its customers with superb technology and services. As part of Fleet Complete, ITmobile will build upon its distinguished performance. I am also delighted to welcome ITmobile’s founders, Harald Treur and Klaas Collet, to Fleet Complete and am thrilled to partner with them.”
ITmobile’s advanced software systems provide reliable, factual data to its customers, enabling organizations to be more transparent and efficient. Combined, Fleet Complete and ITmobile have over 230 employees, 7,000 customers and more than 140,000 subscribers across 5 countries.
“The combination of Fleet Complete and ITmobile brings together two strong companies with exceptional product suites and technology capabilities,” said Harald Treur, President and co-founder of ITmobile. “We share common values, similar cultures and together we will accomplish more than either company would on their own. Both Fleet Complete and ITmobile value taking amazing care of their customers, investing in innovation and being a great place to work. We are thrilled to be part of the Fleet Complete team and look forward to thriving together.”
The transaction was funded through equity investment from the management teams at Fleet Complete and ITmobile as well as Madison Dearborn Partners (MDP), a leading private equity firm that purchased majority control of Fleet Complete in 2014. The acquisition of ITmobile marks the second acquisition for Fleet Complete since MDP’s initial investment.
About Fleet Complete
Based in Toronto, Ontario, Canada, Fleet Complete (FC) is a leading global provider of mission-critical fleet, asset and mobile workforce management solutions to over 6,000 customers worldwide. The Fleet Complete platform harnesses state-of-the-art technology to enable clients to monitor the real-time locations of their fleets, mobile workers and valuable assets and to capture important data that can significantly contribute to their operating success. FC is one of the fastest growing companies in North America and has won numerous awards for innovation and growth since its inception in 2000. For more information, please visit www.fleetcomplete.com.
Based in the Netherlands and Belgium, ITmobile is an innovative fleet telematics company with nearly 1000 customers throughout Western Europe. ITmobile is known for its cutting edge product portfolio, providing 100% reliable, factual data to organizations and helping them be more transparent and efficient. For over 15 years, ITmobile has been focused on superb customer experience and innovation, developing the world’s first auto-functioning time registration app and fleet sharing technology such as TANC. For more information, please visit https://itmobile.com/en.
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