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Technology Stocks : FleetCor Technologies (FLT)

FLT 255.00

-10.7%

Oct 30 9:30 AM EDT

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From: JakeStraw	6/4/2014 9:03:41 AM
	of 28

FleetCor Completes Minority Investment in Masternaut, a Leading European Telematics Provider finance.yahoo.com Founded in 1996 and with headquarters in the UK, Masternaut provides a SaaS-based Mobile Resource Management (MRM) application suite for businesses of all sizes. The company is a pan-European leader in enterprise-grade cloud-based telematics and has over 300,000 vehicles subscribed to its SaaS solutions. Over 15,000 users interact every hour with the systems, and over 50 million data transactions are processed and configured into 20,000 reports every day. With customers in 32 countries, Masternaut has multiple offices and partners throughout Europe. “This minority investment in the leading telematics company in Europe allows us to put another marker on this adjacent telematics space in an important FleetCor geographic region. We will continue to evaluate the attractiveness and relatedness of this high- growth category as another potential product expansion opportunity for FleetCor,” said Ron Clarke, Chairman and CEO, FleetCor Technologies, Inc. “The minority investment also preserves FleetCor’s right to acquire a majority stake in the business at a later date.”

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