Fleet Complete, a Toronto-based provider of Internet of Things solutions in the connected commercial vehicle space, announced its acquisition of Ecofleet, a leading fleet telematics player in the Nordic and Baltic regions.
Terms of the transaction were not disclosed.
This is Fleet Complete’s second acquisition in Europe since ITmobile in 2016 (now operating as Fleet Complete Europe), establishing a presence in the Netherlands, Belgium, Luxemburg, Austria and recently Germany.
“Ecofleet is the current top telematics provider in the north European market, offering cost-effective, high-benefit mobile asset management solutions in Denmark, Finland, Sweden, Norway, Estonia, Latvia, and Lithuania,” Fleet Complete said in a news release.
Ecofleet has more than 80,000 subscribers across small-to-medium businesses and large enterprise fleets, growing Fleet Complete’s subscriber base to more than 110,000 in Europe and more than 400,000 globally, according to Fleet Complete.
Ecofleet’s founders and leadership team will continue driving business in the region, aligning local market expertise with Fleet Complete’s global objectives. Autolog by Ecofleet – a GPS-powered automatic mileage logging solution for business tax claims – will continue to be offered as a standalone brand due to its leading market position in handling country-specific rules and legislation, Fleet Complete said.
Future plans include offering Autolog to other European regions as well as North America.
“Ecofleet has a tremendous team of professionals, amazing product and innovative technology, which we look forward to incorporating into our global offering,” said Tony Lourakis, CEO of Fleet Complete. “Leveraging Ecofleet’s immense success and combining it with Fleet Complete’s expansive IoT infrastructure and mobile carrier partnerships, we will be able to establish a powerful global IoT platform that will help more fleet-owning businesses around the world thrive.”