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Posted on July 20, 2017

Michelin Completes Purchase of NexTraq for Fleet Telematics from FLEETCOR

GREENVILLE, S.C., and NORCROSS, Ga., July 20, 2017 Michelin has closed its acquisition of NexTraq, the U.S. provider of commercial fleet telematics, from FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global provider of fuel cards and workforce payment products.

As a wholly owned subsidiary of Michelin North America, NexTraq will expand Michelin’s footprint, scale and competitiveness in the rapidly growing fleet-services category. NexTraq provides GPS-enabled solutions for driver safety, fuel management and enhancing driver productivity in commercial fleets of smaller vehicles (classes 3‒5).

The purchase agreement was announced on June 14. NexTraq will maintain its principal offices in Atlanta. The unit has approximately 7,000 fleet customers and 116,000 subscribers nationwide.

 

About FLEETCOR

FLEETCOR Technologies (NYSE: FLT) is a leading global provider of commercial payment solutions. The company helps businesses of all sizes better control, simplify and secure payment of their fuel, toll, lodging and other general payables. With its proprietary payment acceptance networks, FLEETCOR provides affiliated merchants with incremental sales and loyalty. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Australasia. For more information, please visit www.FLEETCOR.com.

About Michelin North America

Dedicated to the improvement of sustainable mobility, Michelin designs, manufactures and sells tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks and motorcycles. The company has earned a long-standing reputation for building innovative premium tires.  In addition to tires, the company also publishes travel guides, hotel and restaurant guides, maps and road atlases. Headquartered in Greenville, S.C., Michelin North America (www.michelinman.com) employs about 22,700 and operates 19 major manufacturing plants.




 

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