Investcorp makes new investment in FleetMatics, a market leader in vehicle fleet management systems.
Investcorp, the asset management firm specialising in alternative investments and $11.9 billion in assets under management, has made a new investment in FleetMatics, one of the fastest growing software providers of GPS-based vehicle fleet management systems to small and medium-sized businesses, and a market leader in fleet management in the US, UK and Ireland.
FleetMatics has live Web-based GPS vehicle tracking services that enable business owners to track and manage their vehicles, reducing operating costs, increasing productivity and improving customer services.
“FleetMatics is a company we know well, and one in which we have made a previous investment through our third technology fund,” said Mohammed Al-Shroogi, Investcorp’s President of Gulf business.
“The management team has a proven record of providing exceptional results while driving down the cost of customer acquisition, hardware development service and support. Our new investment in the company is testament to these strong characteristics. We look forward to working with FleetMatics’ management over the next stage of its growth and to creating value for our investors,” he added.
Investcorp is a leading provider and manager of alternative investment products. Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography.