Michelin Completes Acquisition of NexTraq Telematics Provider

Michelin & Cie. has finalized its purchase of NexTraq, an Atlanta-based supplier of telematics services for commercial fleets, from FleetCor Technologies Inc.

Terms of the deal, which was announced last month, were not disclosed. NexTraq provides GPS-based products for operators of medium-duty (Classes 3-5) commercial trucks in such areas as fuel management, driver work hours, productivity and routing assistance.

NexTrak, which has been expanding by 20% annually in recent years, serves more than 7,000 fleet customers.

The sale makes NexTraq a wholly owned subsidiary of Michelin. The French tiremaker says the acquisition will strengthen its participation in the fast-growing U.S. market for fleet services.