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Fleetmatics, a leader global provider of fleet management saas solutions, listed on the NYSE, acquires italian player Visirun.
November 3, 2015 - Fleetmatics Group PLC (NYSE: FLTX), a leading global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS), today announced that it has entered into a definitive agreement to acquire Visirun S.p.A. (“Visirun”), a SaaS-based provider of fleet management solutions headquartered in Ferrara, Italy. Visirun will add approximately 28,000 vehicles under subscription to Fleetmatics’ existing installed base and add an additional 3,000 customers. Terms of the transaction have not been disclosed.
“Italy was a natural next step in our European expansion plans and builds off of our recent entries into The Netherlands and France,” said Jim Travers, Chairman and CEO of Fleetmatics. “The acquisition of Visirun enables us to scale our European subscriber base while also bringing us important Italian market expertise.”
According to leading industry analyst firm Berg Insight1, Italy is the third largest telematics market in Western Europe with nearly 5 million commercial vehicles. Berg Insight estimates that approximately 5% of the commercial vehicles in Italy use a telematics solution today.
“For more than 6 years, Visirun has specialized in the development of GPS fleet tracking solutions designed to help businesses in Italy gain efficiencies, save money and make better decisions with their mobile assets in the field,” said Fabio Previato, founder of Visirun. “By joining with Fleetmatics, we’ll be able to both share valuable expertise and add additional resources, bringing even more value to the Italian market.”
Mr. Previato will remain with Fleetmatics and manage the Visirun business in Italy and all the current employees will join the Fleetmatics team. Fleetmatics will continue supporting and selling Visirun solutions in Italy.
Marco Polo Advisor (with Filippo Rozzanigo, Alberto Romersa and Giovanni Maldarizzi) acted as financial advisor for the Visirun shareholders along the entire acquisition process, in the stages of analysis of the different alternatives, first contact with the American group, development of the business plan and negotiation of the transaction. Pirola Pennuto Zei e Associati, represented by Alberto Bertuzzo, Benedetta Pinna and Dr. Fabio Landuzzi, assisted the Visirun shareholders as legal and tax adviser while the law firm LCA has assisted FleetMatics with a team coordinated by Andrea Messuti with Stefano Giannone Codiglione and Carolina Canepari.
November 3, 2015 - Fleetmatics Group PLC (NYSE: FLTX), a leading global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS), today announced that it has entered into a definitive agreement to acquire Visirun S.p.A. (“Visirun”), a SaaS-based provider of fleet management solutions headquartered in Ferrara, Italy. Visirun will add approximately 28,000 vehicles under subscription to Fleetmatics’ existing installed base and add an additional 3,000 customers. Terms of the transaction have not been disclosed.
“Italy was a natural next step in our European expansion plans and builds off of our recent entries into The Netherlands and France,” said Jim Travers, Chairman and CEO of Fleetmatics. “The acquisition of Visirun enables us to scale our European subscriber base while also bringing us important Italian market expertise.”
According to leading industry analyst firm Berg Insight1, Italy is the third largest telematics market in Western Europe with nearly 5 million commercial vehicles. Berg Insight estimates that approximately 5% of the commercial vehicles in Italy use a telematics solution today.
“For more than 6 years, Visirun has specialized in the development of GPS fleet tracking solutions designed to help businesses in Italy gain efficiencies, save money and make better decisions with their mobile assets in the field,” said Fabio Previato, founder of Visirun. “By joining with Fleetmatics, we’ll be able to both share valuable expertise and add additional resources, bringing even more value to the Italian market.”
Mr. Previato will remain with Fleetmatics and manage the Visirun business in Italy and all the current employees will join the Fleetmatics team. Fleetmatics will continue supporting and selling Visirun solutions in Italy.
Marco Polo Advisor (with Filippo Rozzanigo, Alberto Romersa and Giovanni Maldarizzi) acted as financial advisor for the Visirun shareholders along the entire acquisition process, in the stages of analysis of the different alternatives, first contact with the American group, development of the business plan and negotiation of the transaction. Pirola Pennuto Zei e Associati, represented by Alberto Bertuzzo, Benedetta Pinna and Dr. Fabio Landuzzi, assisted the Visirun shareholders as legal and tax adviser while the law firm LCA has assisted FleetMatics with a team coordinated by Andrea Messuti with Stefano Giannone Codiglione and Carolina Canepari.