RE: 21 for 21 - progress report9 Oct 2021 14:33
MANUFACTURERS – September 2021
September 21, 2021 Concrete News
Fleet management technology developer Eroad has entered an agreement to acquire New Zealand peer Coretex Ltd. in a transaction valued at $157 million. The deal advances an Eroad goal of 250,000 truck installations and greater presence in North America and Australia. The combined organization will strengthen its position in North America as a significant supplier of in vehicle fleet management, dashcams and trailer telematics.
“To accelerate growth, any acquisition target needed to deliver increased capability, improved customer experiences and access to additional market verticals,” says Eroad CEO Steven Newman. “In Coretex we have found a highly complementary partner which allows us to satisfy these criteria. Coretex excels in thinking through the needs of the customers within the frame of the supply chain. Whether it is temperature control, service verification, contamination detection, location, or fuel performance, Coretex takes an end-to-end approach by industry vertical. Balance this against integration of their next generation hardware into Eroad’s broad regulatory product suite and it creates an advanced market fit.”
https://concreteproducts.com/index.php/2021/09/21/manufacturers-september-2021/