IoT firm Fleet Complete expands presence in Mexico via acquisition
Canadian firm Fleet Complete, which provides IoT solutions in the connected commercial vehicle space, has acquired Mexican telematics firm Centro de Soluciones Inalámbricas (CSI), the former said in a release.
The acquisition of CSI will allow Fleet Complete to accelerate growth in the Mexican market, following the launch of IoT solutions in that market in partnership with AT&T Mexico earlier this year.
The terms of the transaction were not disclosed.
“This is a truly exciting partnership for all of us; Mexico is a very large and growing market, brimming with opportunity,” said Tony Lourakis, founder and CEO of Fleet Complete. “CSI has a very experienced and knowledgeable team, market-leading solutions, and a proven business model that will accelerate our growth in the region, while also complementing Fleet Complete’s global platform. This acquisition is in line with our global expansion strategy and, between the channel partnership with AT&T and this new local expertise, we have the recipe for success in Mexico.”
Headquartered in Merida, Mexico, CSI has more than 200 employees in 7 offices, as well as installers in more than 70 cities. The company has approximately 60,000 active users across 1,800 businesses, predominantly in the commercial, distribution and transportation sectors. The partnership grows Fleet Complete’s subscriber base to 600,000 globally.
“The combination of Fleet Complete and CSI brings together exceptional product, industry-leading technology, and complementary go-to-market capabilities,” said Emilio Blanco del Villar, CEO of CSI. “We are perfectly aligned on our corporate values and internal cultures and, together, we will achieve greater success with fast growth in Mexico. Both of our companies are customer-centric and continuously invest in innovation. We are excited to be part of the Fleet Complete team and look forward to excelling together.”
With headquarters in Toronto, Canada, Fleet Complete is a global provider of connected vehicle technology, delivering mission-critical fleet, asset and mobile workforce management solutions. The company services approximately 600,000 subscribers and over 35,000 businesses in Canada, the U.S., Mexico, Australia, the Netherlands, Belgium, Luxemburg, Austria, Germany, Greece, Denmark, Sweden, Finland, Norway, Estonia, Latvia and Lithuania.
The firm maintains key distribution partnerships with AT&T in the U.S. and Mexico, TELUS in Canada, Telstra in Australia, and Deutsche Telekom (T-Mobile) in multiple European countries.
Fleet Complete also has OEM partnerships with General Motors, Toyota, Mitsubishi Australia, and Cummins, among others.