FleetCor Technologies Inc., a global provider of fuel cards and workforce payment products to businesses, announced that it has acquired NexTraq, a U.S. based provider of telematics solutions to small and medium-sized businesses, from Francisco Partners.
Francisco Partners acquired NexTraq (then known as Discrete Wireless) in 2009.
NexTraq provides fleet operators with an internet-based system that enhances workforce productivity through real-time vehicle tracking, route optimization, job dispatch and fuel usage monitoring.
The business has grown subscribers over 20% annually over the past couple of years and has now reached 100,000 active subscribers. It has a recurring monthly fee revenue model.