By
Team Writer
/ June 21, 2017
Michelin has acquired Nextraq, formerly a subsidiary of Fleetcore Technologies Inc. This purchase effectively offers Michelin the opportunity to expand on its market and have a greater impact in the automotive industry. Michelin believes, with its commitment to tires and now its navigation, that it has improved the realm of automotive safety standards.
Key Takeaways:
- Michelin has agreed to acquire NexTraq, a U.S. provider of commercial fleet telematics, in an all-cash transaction. Based in the Atlanta area, NexTraq is a subsidiary of FLEETCOR Technologies, Inc., a global provider of fuel cards and workforce payment products.
- 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 and services in the United States.
- NexTraq has technology that, among other capabilities, monitors reckless driving and stops texting while driving. This capability is an excellent cultural fit with Michelin’s purpose and long-standing commitment to road safety
“”NexTraq has technology that, among other capabilities, monitors reckless driving and stops texting while driving. This capability is an excellent cultural fit with Michelin’s purpose and long-standing commitment to road safety,” Dimenna said.”