Rand McNally, in a move to elevate its place in the connected vehicle space, has acquired Australia-based Fleetsu and its flexible platform, according to a joint announcement.
Teleo Capital, which acquired Rand McNally in the fourth quarter of 2020, has purchased Fleetsu to combine the fleet organizations and as part of Teleo’s goal to significantly increase its investment in transportation solutions, according to the announcement.
The transaction combines Rand McNally’s fleet business with Fleetsu’s platform, data, and analytics capabilities to create a global enterprise that will bring innovative solutions to vehicle fleets worldwide, the companies said.
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The new combined Rand McNally helps fleet operators maximize business productivity through access to real-time, on-the-road data—providing insights to solve challenges such as driver location and safety, engine performance, and vehicle efficiency (fossil and electric), they said.
Fleetsu was just a seven-year-old company but had secured a number of global truck and automotive OEM contracts, including Toyota Motor Corp. of Australia as its platform is viewed as a leading vehicle and truck solution for OEMs as well as fleets.
“Rand McNally is committed to delivering innovative products and services that improve fleet and driver efficiency, safety, and security," said Aaron Dannenbring, CEO of Rand McNally. “Fleetsu takes our existing expertise to the next level as we now offer the industry's best connected fleet platform complementing our already robust hardware, navigation, logistics, and publishing businesses. The combination of Rand McNally and Fleetsu creates a world-class connected-vehicle powerhouse.”
According to Allied Market Research, the global fleet management market is experiencing unprecedented growth, with forecasts predicting the industry will double by 2030, reaching $52.5 billion in value.
“The acquisition of Fleetsu is an exciting step in Rand McNally’s transformation of its fleet and navigation product offerings,” said Joseph Roark, Teleo Capital operating partner and Rand McNally’s chairman. “Fleetsu’s cutting-edge platform, analytics and data capabilities will allow Rand McNally to offer a connected vehicle solution across the full fleet supply chain.
“The acquisition further expands Rand McNally’s footprint as a global provider to long-haul and local fleets, field service companies, government, auto and truck OEMs (both fuel and EV platforms) and vehicle rental fleets.”
Jakub Felinski, Fleetsu's founder, will become chief innovation officer of Rand McNally. “Fleetsu has quickly built a reputation grounded in being hyperfocused on meeting the needs of our customers, no matter how complex. With Rand McNally's strong navigation and transportation expertise and our already deep bench of leading engineers focused on creating technology data solutions, we are confident that we will be moving the industry forward." Felinski said.
