Michelin to buy telematics provider NexTraq
All-cash deal gives tire maker a telematics provider focused on the small fleet segement.
Global tire maker Michelin has agreed to acquire NexTraq, a U.S. provider of commercial fleet telematics services, from its parent company, FLEETCOR Technologies, Inc., in an all-cash transaction.
“Telematics and fleet management services are a rapidly growing category worldwide and an important area of Michelin Group’s overall business plans,” said Ralph Dimenna, COO for Michelin Americas Truck Tires, the heavy truck unit of Michelin North America, in a statement.
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Source:: http://fleetowner.com/technology/michelin-buy-telematics-provider-nextraq
