Michelin: acquires Masternaut
(CercleFinance.com) - Michelin announces the acquisition of Masternaut, a telematics company in Europe, which is mainly present in France and the UK, which has a technical platform and embedded solutions to optimise the management and monitoring of vehicle fleets.
Masternaut manages over 220,000 contract vehicles, most of which are light commercial vehicles. The transaction has been made based on a valuation of eight times Ebitda 2018 before synergies.
With this acquisition, the tyre maker intends to accelerate the development of its services and solutions businesses for passenger cars, as well as capture ever more data to offer the best solutions to its customers.
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