MASTERNAUT has agreed to be acquired by Michelin, to accelerate product development and its growth across Europe.
Masternaut will continue to operate under its own brand as a fully owned subsidiary within Michelin.
Masternaut is Michelin’s third major acquisition in the fleet telematics industry, with previous investments in Nextraq in North America and Sascar in South America. This acquisition provides Michelin access to Europe’s rapidly growing telematics market, projected by industry analyst Berg Insight to grow by over 15% p.a. in the next five years.