The Field Service Management (FSM) division of Trimble will be acquired by MiX Telematics, a South African-based SaaS supplier of connected fleet and mobile asset management solutions. The transaction is subject to standard closing conditions, with Raymond James serving as MiX Telematics’ financial advisor.
Stefan Joselowitz, Chief Executive Officer and President of MiX, stated that the development was appreciated as it gives the firm opportunity to provide these services to new customers. MiX Telematics focuses on providing the greatest levels of value and customer satisfaction in numerous industries.
Joselowitz added that the company has the ability to grow its presence in North America and significantly diversify its North American business thanks to the tight collaboration between the MiX and Trimble Field Service Management teams.
“The MiX and Trimble Field Service Management teams are working very closely together to ensure a seamless transition. The combination adds significant scale to our North American telematics subscriber base while diversifying that business into additional industry verticals. North America is a strategic priority for MiX, and we are well positioned to pursue M&A opportunities to bolster our regional organic growth investment,” said Joselowitz.
Paul Cardosi, Vice President of Trimble’s Transportation division, noted that the firm had made a significant effort to locate the right vendor to continue the great service and investment that its FSM clients expect. “We are glad to have found that company in MiX Telematics.”
Trimble is an industrial technology company that is reshaping society by providing services that help clients succeed. The firm is focused on delivering solutions through its core technologies in positioning, modeling, connectivity and data analytics aimed at improving productivity, quality, safety, transparency and sustainability, as it redefines sectors like agriculture, construction, GIS, and transportation.
About MiX Telematics
With 838,300 global members in more than 120 countries, MiX Telematics is a top provider of fleet and mobile asset management solutions. Enterprise fleets, small fleets, and consumers can find solutions for efficiency, safety, compliance, and security through the company’s products and services.
The firm has offices in South Africa, the United Kingdom, the United States, Uganda, Brazil, Mexico, Australia, and the United Arab Emirates. It also has a network of more than 130 fleet partners across the world. Shares of MiX Telematics are traded in the open market on the New York Stock Exchange and the Johannesburg Stock Exchange.
The acquisition of FSM will enable the company increase its scale in North America and to further diversify its North America business by expanding its presence in market verticals such as construction and last mile logistics. The asset purchase agreement includes a supply agreement where Trimble promises to provide specific hardware, including telemetry kits and other components, as needed to fulfill subscription orders.
The agreement also involves a Source Code License Agreement under which Trimble allows MiX to access its source code and a Transition Services Agreement where Trimble commits to providing access to specific programs and connections to networks in order to maintain ongoing operations and customer accounts management.