Cybit and Masternaut, both European telematics companies providing vehicle tracking, fleet and driver management solutions, Monday announced that they have combined to form a single, pan-European telematics company. The new organization, which retains the Masternaut name, will have more than 500 employees supporting a 10,000-strong customer base across 32 countries.
"The telematics market is undergoing rapid consolidation," said Bill Henry, who assumes the role of Masternaut Group CEO. "As the pan-European market leader with the largest development team in the industry, Masternaut offers a clear choice for customers who want industry-leading products delivered by a strategic, long-term partner,"
"By combining Cybit and Masternaut, we can innovate faster, increase our geographic reach, raise industry standards, and bring customers compelling opportunities for improved business performance," Henry said.
The combination of Cybit and Masternaut enables the strategic evolution of telematics from a tactical operational tool, to an enterprise-wide, information management solution accessed from a single, cloud-based platform. The new Masternaut will deliver modular telematics applications that deliver step-changes for improving business performance, whilst enabling customers to save up to 20% on their fleet operating costs.
The Cybit-Masternaut agreement was overseen by technology-focused private investment fund, Francisco Partners, which acquired Cybit Holdings plc in 2009.
"Cybit and Masternaut have enjoyed great success as independent companies and joining forces will introduce a new level of service excellence in the telematics industry," said Deep Shah, Partner, Francisco Partners. "Global fleets want to manage their mobile workforces more effectively; we believe the new Masternaut fulfils an important role by providing the leadership that will embed telematics into a greater number of performance-driven businesses."