Rand McNally makes acquisition to boost “connected vehicle” products
Private equity ownership buys Australia’s Fleetsu startup for its data collection and analytics tools.
Fleet management and asset tracking solution provider Rand McNally is leveraging its private equity backing to acquire an Australian vehicle data monitoring firm, saying the deal will allow it to offer a “connected vehicle” solution across the full fleet supply chain.
Chicago-based Rand McNally acquired Perth, Australia-based Fleetsu for an undisclosed amount. Teleo Capital, the investment firm which purchased Rand McNally in 2020, said that combining the two fleet organizations was part of its pledge to “significantly increase its investment in best-in-class solutions for the transportation market.”
"The acquisition of Fleetsu is an exciting step in Rand McNally's transformation of its fleet and navigation product offerings," Joseph Roark, Teleo Capital’s operating partner and Rand McNally’s chairman, said in a release. "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."
Specifically, the transaction brings together Rand McNally's fleet business with Fleetsu's platform, data, and analytics capabilities. According to the firms, that combination will help fleet operators to maximize business productivity through access to real-time, on-the-road data, providing insights into issues like driver location and safety, engine performance, and vehicle efficiency (both fossil and electric).
Jakub Felinski, the founder of seven-year-old Fleetsu, will now take on the title of chief innovation officer at Rand McNally. "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 in a statement. "We look forward to expanding our combined global business that writes a new chapter for connected transportation, led by technology."
We are excited to announce that we have acquired Australia-based Fleetsu! Learn more about the acquisition here: https://t.co/WiuJE2GtEy pic.twitter.com/CNbUHhVTit
— Rand McNally (@randmcnally) April 12, 2022
— Fleetsu (@fleetsu_com) April 12, 2022