Huntingdon, UK: Transport telematics providers, Cybit and Masternaut, have combined to form the largest telematics provider in Europe. “What we are doing is building a company with the best products for the market and with the broadest geographic reach,” says Bill Henry, who assumes the role of Masternaut Group chief executive
“By putting the two companies together we have more than 100 people in R&D. We can innovate faster, increase our geographic reach, raise industry standards, and bring customers compelling opportunities for improved business performance,” he says.
Continuing consolidation in road transport means much larger companies that want to deal with a single corporate supplier for their pan-European telematic needs, Henry says. “There is tremendous opportunity for growth in Europe. We have seen over the past three years a huge increase in the value people put on technology.”
The combination of Cybit and Masternaut enables the “strategic evolution of telematics from a tactical operational tool, to an enterprise-wide, information management solution accessed from a single, cloud-based platform.”
“The new Masternaut will deliver modular telematics applications that deliver step-changes for improving business performance, whilst enabling customers to save up to 20% on their fleet operating costs,” says Henry.
The Cybit-Masternaut agreement was overseen by technology-focused private investment fund, Francisco Partners, which acquired Cybit Holdings plc in 2009.
“Cybit and Masternaut have enjoyed great success as independent companies and joining forces will introduce a new level of service excellence in the telematics industry,” said Deep Shah, partner, Francisco Partners. “Global fleets want to manage their mobile workforces more effectively; we believe the new Masternaut fulfils an important role by providing the strategic direction that will embed telematics into a greater number of performance-driven businesses.”
Masternaut designs and delivers innovative solutions for managing the mobile workforce that enable customers and partners to achieve evolutionary step-changes in their performance and service delivery. Formed through the combination of established telematics providers, Cybit and Masternaut, the new Masternaut boasts the broadest range of telematics products, services and R&D capability in Europe. Individually, the companies represented some of the fastest-growing private technology firms in Europe.
In 2010, Cybit was ranked 13th in the Sunday Times International Fast Track, having achieved more than 150% growth in sales during 2007-2010; whilst Masternaut has featured in the 2007, 2008 and 2009 Sunday Times (UK) Tech Track 100, and was also recognised on the Deloitte Fast 500 EMEA in 2009. Masternaut is headquartered in Huntingdon, England and has more than 500 employees and 10,000 customers across Europe.
