Proving the Business Case for the Internet of Things

TomTom acquires Fleetlogic to strengthen European telematics position

Keith Kreisher
December 3, 2014

Dutch asset-tracking player TomTom Telematics has bought Fleetlogic to strengthen its position in the European telematics sector.

In a statement, it described Fleetlogic (Eindhoven, Netherlands) as one of the leading fleet management service providers in the Netherlands.

“The fleet management market in the Netherlands is an important and fast growing market in Europe,” said Thomas Schmidt, the managing director of TomTom Telematics (Amsterdam, Netherlands). “Adding the experience of Fleetlogic in enterprise fleets and government sales, we now address the full potential of this growing market.”

The acquisition also includes TripXs and Inalise, two Fleetlogic subsidiaries, and will add another 27,000 subscriptions to TomTom’s installed base.

The company claims its installed base now consists of more than 450,000 vehicles.

TomTom’s telematics business has been performing strongly in recent quarters and helping to offset pressure in the company’s consumer business.

Revenues rose by 34% in the three months to end September 2014, to €28.4 million, compared with the same period in 2013, with the company’s installed base of subscriptions growing from 310,000 to 414,000 over that period.

The figures were boosted by TomTom’s acquisition earlier this year of DAMS Tracking, the fleet management business of French company DAMS (Noisy-le-Roi, France).

Like the Fleetlogic takeover, the DAMS transaction gave TomTom another 27,000 subscribers.

In April, when announcing details of the move, TomTom described France as the largest addressable telematics market in Europe, with about six million commercial vehicles in use, and said it would be able to establish itself as a leading player in the country through the takeover.

TomTom has also recently flagged good progress in the large German market, striking a deal in October with insurance provider Signal Iduna (Dortmund, Germany) to provide feedback on driving performance, with the aim of increasing road safety awareness for young drivers.

“Our technology continues to help our partners in the insurance and motor industry offer a new generation of young drivers the tools to identify areas of risk, and make adjustments to improve their road safety,” said Schmidt at the time.
 
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