Michelin has closed its acquisition of NexTraq, the U.S. provider of commercial fleet telematics, from FLEETCOR Technologies, Inc., a global provider of fuel cards and workforce payment products.
As a wholly owned subsidiary of Michelin North America, NexTraq will expand Michelin's footprint, scale and competitiveness in the rapidly growing fleet-services category. NexTraq provides GPS-enabled solutions for driver safety, fuel management and enhancing driver productivity in commercial fleets of smaller vehicles (classes 3‒5).
The purchase agreement was announced on June 14. NexTraq will maintain its principal offices in Atlanta. The unit has approximately 7,000 fleet customers and 116,000 subscribers nationwide.
