NORCROSS, Ga. — Michelin North America has agreed to acquire NexTraq, a U.S. provider of commercial fleet telematics, in an all-cash transaction.
Atlanta-based NexTraq is a subsidiary of Fleetcor Technologies Inc., a provider of fuel cards and workforce payment products. Financial terms were not disclosed.
NexTraq provides solutions for driver safety, fuel management and enhancing fleet productivity, the tire maker said, as well as GPS fleet management solutions for fleets of small commercial vehicles (classes 3?5) ranging from two to 50 vehicles.
"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.