E.Novation offers solutions for the archiving and analysis of vehicle data via digital tachograph, as well as the monitoring of European toll charges and vehicle costs.
The company’s acquisition will enable Masternaut to enhance its technology offering with the ability to transmit tachograph data wirelessly –making it one of the first in the market to do so. Logistics companies using the systems will have instant access to tachograph-generated data from across Europe, detailing driver and vehicle information including speed, driving and resting times and historical details including mileage, in-line with EU regulation.
Masternaut will also take over E.Novation’s Berlin office, opening its first German R&D base in order to accelerate product development in the region.
This acquisition is the latest in a series of growth announcements for Masternaut. In the first quarter of 2013, the company announced the expansion and bolstering of its R&D team, as well as the coming together of Masternaut Germany GmbH with Masternaut GmbH in Meerbusch to deliver its technology to an expanded German customer base.
Martin Hiscox, chairman and CEO of Masternaut, said: ‘The acquisition of E.Novation will not only enable us to deliver Masternaut’s customers more ways in which to increase the efficiency of their fleets, but will also mark the establishing our first R&D point of presence in Germany. Going forwards, we’re looking to build on this momentum, continuing to address the growing demand across Europe and beyond.’
Arthur Nederlof, owner and founder of E.Novation, added: ‘Through this acquisition, the reach of E.Novation’s product set will be vastly expanded. Our technology is highly complementary with that of Masternaut and the two combined will have the ability to make the lives of fleet managers across Europe significantly easier. Masternaut’s industry expertise is second-to-none and, as we look towards the next phase of our partnership, we know we are in safe hands. We’re looking forward to working together to develop and deliver the very latest in fleet innovation.’
The acquisition is subject to the fulfilment of pre-closing conditions and is expected to complete before the end of June 2013.
