Fleetmatics Group PLC, global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS), 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, which is expected to close in the fourth quarter of 2015, 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 Insight(1), 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.