- 5 January 2016
- Transport / Logistics Services
Tomtom Telematics has bought the Polish company Finder that will grow Tomtom’s business by 60,000 drivers. Poland is an important growth market for Europe’s leading fleet telematics company, and this acquisition will give the company a good base in which to begin taking on this new market.
TomTom Telematics managing director Thomas Schmidt said: “Poland is one of the fastest growing telematics markets in Europe.
“By combining the strength of existing TomTom Telematics activities with Finder S.A., we directly address a large and growing telematics market with high potential whilst establishing a leading position in Eastern Europe.”
The acquisition takes the number of Tomtom Telematics subscribers to 600,000 across Europe.
Tomtom Telematics is a fleet management, vehicle telematics and connected car services solution under the WEBFLEET platform. The Webfleet platform is a software as a service solution, used by SMEs and large fleets alike to improve vehicle performance, save fuel, support drivers and increase overall fleet efficiency. Tomtom Telematics also supports insurance, rental ad leasing companies as well as car importers.
With over 600,000 subscriptions worldwide, Tomtom Telematics is one of the biggest companies in the business worldwide, working into over 60 countries. Due to its size it has one of the industry’s strongest local support networks and range of sector specific third party applications and integrations.
No further details of the acquisition have been published, though the buyout is significant in this sector. Tomtom is well established as an industry leader in satnav and fleet telematics, and the purchase of Finder will give the company even more strength with the move into a rapidly growing market in Eastern Europe. Where western European countries’ economies have matured, there is a lot of growth in new European Union countries and for Tomtom, securing a foothold in this market should significantly improve its business.