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Fleet Complete Acquires Securatrak and Expands into Australia and Asia

By Ken Briodagh October 31, 2016

Fleet Complete, an IoT company that does software development for fleet, asset and mobile workforce management solutions, has announced that it will continue its global expansion plans with the acquisition of Australian-based Securatrak. Terms of the transaction were not disclosed. MHT Partners served as exclusive advisors to Fleet Complete.

Founded in 2003 in Adelaide, Securatrak was one of the first GPS technology companies in Australia, providing cost-effective, high-benefit vehicle tracking and fleet management solutions.

“This is an amazing entrepreneurial team that has built great local expertise in the Australian market and that will become the base for Fleet Complete in Australasia,” said Tony Lourakis, CEO, Fleet Complete. “We believe the Australian telematics market is at an inflection point and is poised for major growth, giving Fleet Complete the perfect opportunity to serve this market demand with its comprehensive IoT product portfolio.”

The acquisition continues Fleet Complete’s growth, which has included its expansion into Europe at the end of 2015 and being named by Berg Insight as one of the top fleet management providers in North America.

“We are excited to become part of the Fleet Complete team,” said Mark Holmes, founder and Managing Director, Securatrak. “Our shared commitment to leading the market in innovation and providing our clients with premium services makes this union a perfect match.”

Securatrak currently has over 25,000 subscribers across Australia and Asia and will continue to support existing customers and products. “We look forward to introducing the Fleet Complete suite of connected vehicle and resource solutions to the Australian market via Securatrak’s wireless channel partner, Telstra, and extend this advanced telematics platform to local and international businesses,” added Holmes.

As smaller players are more and more absorbed by larger companies and regional leaders in the IoT industry, the industry gets closer to a place where standards can finally be discussed, because these mergers and acquisitions mean that the relationships between the larger leaders get ever more technologically intertwined. And that’s a good thing. 




Edited by Alicia Young
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