Fleet Complete has acquired leading Dutch fleet telematics company ITmobile, the company said.
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.
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.
Based in Toronto, Ontario, Canada, Fleet Complete (FC) is a global provider of mission-critical fleet, asset and mobile workforce management solutions to over 6,000 customers worldwide.
Based in the Netherlands and Belgium, ITmobile is an innovative fleet telematics company with nearly 1000 customers throughout Western Europe.