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Masternaut

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Masternaut
Company typePrivate
IndustryTelematics
Founded1996
FounderSerge Deleau
HeadquartersLeeds,
UK
Area served
Worldwide
Key people
  • Dhruv S. Parekh (CEO)
Number of employees
400
WebsiteMasternaut.com

Masternaut is a telematics company specialising in fleet and asset management. They achieved recognition with Martin Port as CEO and was featured as a 2015 UK Government Future 50 Tech Company and in the Sunday Times Tech Track 100, a list of the fastest growing UK technology firms, in 2007, 2008, 2009, 2010 and 2014.[1] In April 2011 Masternaut merged with former AIM-listed competitor Cybit, and is operating under the Masternaut name. The company is owned by Summit Partners and Fleetcor, following its acquisition from Francisco Partners in 2014.[2] Masternaut has around 400 employees, based in the UK and France.

History

Masternaut was founded in 1996 by Serge Deleau in France under the name SDM. In 2012, the company rebranded to Masternaut under Martin Hiscox with the backing of Francisco Partners. In 2013, Masternaut acquired Three X, a mobile workforce software business, from GE.[3]

Previously a Masternaut competitor, AIM-listed Cybit, led by CEO Richard Horsman, acquired Thales Telematics from Thales Group[4] and public sector telematics specialist Amatics[5] in 2007. Cybit made a further acquisition in 2008 of Truck24, a German Telematics Logistics provider, for €4 million.[6] In 2009, private equity firm Francisco Partners acquired Cybit Holdings plc in a £23 million deal, taking the company private.[7] Cybit also acquired Oxloc, a specialist non-powered asset tracking devices provider, that year.[8] Meanwhile, Masternaut was on the acquisition trail, signing hosting and data store company Fibre-City for £6 million.[9]

In 2011, Bill Henry as Chairman with the backing of Francisco Partners Private Equity merged Masternaut with Cybit in a £100m deal to create Europe's largest telematics solutions[buzzword] provider, with a 10,000-strong customer base spread across 32 countries.[10][11] However, Berg Insight reported that this position was lost in 2015 to Tom Tom as new business growth faltered. The Berg report for 2016 indicates Masternaut continues to lose market share to key competitors. Masternaut remains the largest telematics provider in the UK, and as part of the FleetCor family, is one of the largest fleet suppliers in the UK covering a fleet's total cost of ownership needs.

Masternaut signed a partnership with Telefonica in 2012, estimated to be worth $910 million between 2012–2020.[12] Masternaut also has partnerships with SwissCom and with many specialist fleet providers.

In 2014, Masternaut Group Holdings was sold by Martin Hiscox then Chairman and Francisco Partners to Summit Partners and Fleetcor Technologies for an undisclosed sum. The company appointed Dhruv S. Parekh as CEO of Masternaut in 2015.[13]

Masternaut Connect, the next generation of the company's enterprise-grade SaaS platform, launched and grew at 25-30% per annum. Their product range expanded with a driver mobile application, a specialised cold chain solution and a plug-and-play telematics device. Partnerships for factory-fit telematics (Vauxhall, PSA, Renault)[14] and for pre-equipped leased/hired vehicles (Fraikin, Petit Forestier, Lex)[15] have improved overall access to telematics. As a result, surveys revealed an improvement of +50 in Masternaut's global NPS (Net Promoter Score) between 2017 and early 2019.

In 2018, Masternaut underwent a company rebranding, including a new logo and a new proposition: the unseen advantage, emphasising Masternaut's supposed ability to "help companies leverage fleet data to optimise costs and transform business operations".[citation needed] The creation of a data science team, able to provide bespoke deep analysis from customer and global trends, was a key part of this transition.[citation needed]

Michelin acquired Masternaut in 2019[16] making it their third major acquisition in fleet telematics. With the other acquisitions in North America and South America, Masternaut gives Michelin access to the European market.

Technology

Masternaut offer a range of telematics services incorporating a number of different technologies. All of these services use Global Positioning System (GPS) technology to track vehicle or asset locations, which are then transmitted via GPRS and GSM mobile networks to Masternaut's data centres and software platform, Masternaut Connect. Customers are able to instantly view their fleet's data.

CAN, OBD, and 12V cigarette lighter port

Masternaut are able to connect fleets in different ways (CAN bus, OBD port and cigarette lighter), that can be integrated as part of a mixed fleet service. Masternaut's patented CAN clip provides the most amount of real-time data and is less intrusive[citation needed], whereas the OBD-II device is typically easier to install. The third option is a device that plugs into a vehicle's cigarette lighter (12V outlet), making it easy to plug/unplug and deliver obvious driver privacy.[citation needed]

References

  1. ^ "Fast Track100". Sunday Times. 2009. Archived from the original on 10 November 2013. Retrieved 24 December 2012.
  2. ^ "Telematics provider Masternaut bought by Summit Partners and FleetCor". Fleet News. 6 June 2014. Retrieved 26 January 2015.
  3. ^ "Tracking move". Fleet News. 10 October 2006. Retrieved 24 December 2012.
  4. ^ "Cybit acquires Thales Telematics". Computer Weekly. 16 February 2007. Retrieved 24 December 2012.
  5. ^ "Cybit acquires Amatics". Modern Utility Management. 1 December 2007. Archived from the original on 11 November 2013. Retrieved 24 December 2012.
  6. ^ "CybIT acquires TRUCK24 for total 4 mln euros". LSE. April 2008. Retrieved 24 December 2012.
  7. ^ "Europe News: Francisco Clinches Cybit Deal". EBSCO Host. December 2009. Retrieved 24 December 2012.
  8. ^ "Cybit acquires OxLoc". Manufacturing and Logistics IT. 14 August 2008. Retrieved 24 December 2012.
  9. ^ "Europe News: Masternaut Three X acquires FibreCity for £6m". Telegraph. 14 February 2009. Archived from the original on 10 November 2013. Retrieved 24 December 2012.
  10. ^ "New tracking business formed in merger". Growth Business. 12 April 2011. Retrieved 24 December 2012.
  11. ^ "Chancellor backs UK grab for data analytics market". Telegraph. 16 May 2011. Retrieved 24 December 2012.
  12. ^ "Need for revenue drives Telco M&A". Financial Times. 10 September 2012. Retrieved 24 December 2012.
  13. ^ "Masternaut Appoints Dhruv S. Parekh as chief executive officer". Fleet News. 14 May 2015. Retrieved 21 October 2015.
  14. ^ "PSA Group partners with Masternaut to provide telematics to fleets". Fleet News. 28 September 2016. Retrieved 30 April 2019.
  15. ^ "Fraikin and Masternaut team up in Europe to offer an innovative commercial telematics solution". PR Newswire. January 2015. Retrieved 30 April 2019.
  16. ^ "Michelin to acquire Masternaut". Fleet News. 16 May 2019. Retrieved 13 September 2019.
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