Acquisition of a leading Mexican telematics provider accelerates recent expansion into Mexico
TORONTO, ON–Fleet Complete, the fastest-growing provider of IoT solutions in the connected commercial vehicle space, announced today its acquisition of Centro de Soluciones Inalámbricas (CSI), a leading fleet telematics player in Mexico. Terms of the transaction were not disclosed.
On the heels of its successful launch with AT&T Mexico in October this year, Fleet Complete has selected CSI as its partner to accelerate growth in the region. Headquartered in Merida, CSI is a top telematics provider in the Mexican market, offering fleet management solutions that help lower operating costs and boost driver and vehicle safety.
“This is a truly exciting partnership for all of us; Mexico is a very large and growing market, brimming with opportunity,” says Tony Lourakis, founder and CEO of Fleet Complete. “CSI has a very experienced and knowledgeable team, market-leading solutions, and a proven business model that will accelerate our growth in the region, while also complementing Fleet Complete’s global platform. This acquisition is in line with our global expansion strategy and, between the channel partnership with AT&T and this new local expertise, we have the recipe for success in Mexico.”
CSI has more than 200 employees in 7 offices, as well as installers in more than 70 cities. The company has approximately 60,000 active users across 1,800 businesses, predominantly in the commercial, distribution and transportation sectors. The partnership grows Fleet Complete’s subscriber base to 600,000 globally.
“The combination of Fleet Complete and CSI brings together exceptional product, industry-leading technology, and complementary go-to-market capabilities,” says Emilio Blanco del Villar, CEO of CSI. “We are perfectly aligned on our corporate values and internal cultures and, together, we will achieve greater success with fast growth in Mexico. Both of our companies are customer-centric and continuously invest in innovation. We are excited to be part of the Fleet Complete team and look forward to excelling together.”
CSI’s leadership team will continue driving business in the region, aligning local market expertise with Fleet Complete’s global objectives.
About Fleet Complete
Fleet Complete is a leading global provider of connected vehicle technology, delivering mission-critical fleet, asset and mobile workforce management solutions. The company is servicing approx. 600,000 subscribers and over 35,000 businesses in Canada, the U.S., Mexico, Australia, the Netherlands, Belgium, Luxemburg, Austria, Germany, Greece, Denmark, Sweden, Finland, Norway, Estonia, Latvia and Lithuania. It maintains key distribution partnerships with AT&T in the U.S. and Mexico, TELUS in Canada, Telstra in Australia, and Deutsche Telekom (T-Mobile) in multiple European countries. Fleet Complete cultivates strong OEM partnerships with global market leaders, such as General Motors, Toyota, Mitsubishi Australia, and Cummins, among others. It remains one of the fastest-growing companies globally, having won numerous awards for innovation and growth.