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.

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About Michelin North America

Michelin, the leading mobility company, is dedicated to enhancing its customers’ mobility, and sustainably; designing and distributing the most innovative tires, services and solutions for its customers’ needs; providing digital services, maps and guides to help enrich trips and travels and make them unique experiences; and developing high-technology materials that serve a variety of industries. Headquartered in Greenville, South Carolina, Michelin North America has approximately 23,000 employees and operates 34 production facilities in the United States and Canada. (michelinman.com)