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BRIEF-Michelin to acquire Nextraq, a telematics provider, from Fleetcor
June 14, 2017 / 6:37 AM / in a month

BRIEF-Michelin to acquire Nextraq, a telematics provider, from Fleetcor

1 Min Read

June 14 (Reuters) - Michelin/Fleetcor:

* Michelin announced that it has agreed to acquire FleetCor's business NexTraq, a U.S. provider of commercial fleet telematics, in an all-cash transaction

* NexTraq has 117 employees, approximately 7,000 fleet customers and 116,000 individual subscribers

* "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," said Ralph Dimenna, chief operating officer for Michelin Americas Truck Tires, in a statement

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