GREENVILLE, S.C., and
NORCROSS, Ga., July 20, 2017 /PRNewswire/ -- 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 Michelin North
America
Dedicated to the improvement of sustainable mobility, Michelin
designs, manufactures and sells tires for every type of vehicle,
including airplanes, automobiles, bicycles, earthmovers, farm
equipment, heavy-duty trucks and motorcycles. The company also
publishes travel guides, hotel and restaurant guides, maps and road
atlases. Headquartered in Greenville,
S.C., Michelin North America
(www.michelinman.com) employs about 22,650 and operates 20 major
manufacturing plants.
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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SOURCE Michelin