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By Olivia Bugault
Compagnie Generale des Etablissements Michelin (ML.FR) said Thursday that it has signed an agreement to acquire telematics provider Masternaut.
The aim of the acquisition is to accelerate the deployment of its group's telematics offerings in Europe, The French tire maker said.
Telematics is a field which includes technology used for the tracking of vehicles.
The company didn't disclose the financial details of the deal.
Masternaut provides onboard telematics solutions for vehicle fleet management and monitoring and operates primarily in the U.K. and France.
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(END) Dow Jones Newswires
May 16, 2019 02:44 ET (06:44 GMT)
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