Michelin Buys Truck Telematics Firm

Tiremaker Michelin & Cie. has agreed to purchase Fleetcor Technologies Inc.’s NexTraq telematics subsidiary. Terms of the all-cash deal weren’t disclosed.

Based in Norcross, Ga., NexTraq provides automated fuel payment systems and a variety of fleet management services to commercial truck customers. The 17-year-old company also offers safety-related systems that monitor driver behavior and in-vehicle texting.

NexTraq, which specializes in small commercial vehicles (Class 3‒5 trucks), says it has about 7,000 fleet customers and 116,000 individual subscribers. The company will be operated independently within Michelin North America, which aims to grow its telematics business.