The company expands operations to Australia and Asia
Toronto—Fleet Complete, an award-winning IoT company in innovative software development for fleet, asset and mobile workforce management solutions, continues its global expansion through 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 of 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 explosive growth, following its expansion into Europe at the end of 2015 and gaining the company recognition from 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, Securatrak’s founder and managing director, “Our shared commitment to leading the market in innovation and providing our clients with premium services makes this union a perfect match.”
Securatrak has over 25,000 subscribers across Australia and Asia and will continue to support existing customers and products.