Rand McNally, in a transformational move to elevate its place in the connected vehicle space, has acquired Australia-based Fleetsu and its innovative, flexible platform. TELEO Capital, which purchased Rand McNally in Q4 2020, bought Fleetsu, combining the fleet organisations as part of its pledge to significantly increase its investment in best-in-class solutions for the transportation market.
The transaction brings together Rand McNally’s fleet business with Fleetsu’s platform, data, and analytics capabilities to create a global enterprise that will bring innovative solutions to vehicle fleets worldwide. Together, the new combined Rand McNally helps fleet operators maximise business productivity through access to real-time, on-the-road data, providing valuable insights that solve for today’s challenges like driver location and safety, engine performance, and vehicle efficiency (fossil and electric).
Although only seven years old, Fleetsu has secured a number of major global truck and automotive OEM contracts, including Toyota Motor Corporation, Australia, as its platform is viewed as a best-in-class vehicle and truck solution for OEMs as well as fleets.
“Rand McNally is committed to delivering innovative products and services that improve fleet and driver efficiency, safety, and security,” said Aaron Dannenbring, CEO of Rand McNally. “Fleetsu takes our existing expertise to the next level as we now offer the industry’s best connected fleet platform complementing our already robust hardware, navigation, logistics, and publishing businesses. The combination of Rand McNally and Fleetsu creates a world-class connected vehicle powerhouse.”
According to Allied Market Research, the global fleet management market is experiencing unprecedented growth with forecasts predicting the industry to more than double by 2030, reaching $52.5 billion in value. With growth happening across all sectors of the industry, but particularly in telematics and connectivity, the business climate is ideal for Rand McNally and Fleetsu coming together.
“The acquisition of Fleetsu is an exciting step in Rand McNally’s transformation of its fleet and navigation product offerings,” said Joseph Roark, TELEO Capital Operating Partner and Rand McNally Chairman. “Fleetsu’s cutting edge platform, analytics and data capabilities will allow Rand McNally to offer a connected vehicle solution across the full fleet supply chain. The acquisition further expands Rand McNally’s footprint as a global provider to long-haul and local fleets, field service companies, government, auto and truck OEMs (both fuel and EV platforms) and vehicle rental fleets.”
Jakub Felinski, Fleetsu’s founder, who will be driving new solutions as Chief Innovation Officer of Rand McNally, noted that “Fleetsu has quickly built a reputation grounded in being hyper-focused on meeting the needs of our customers, no matter how complex.”
“With Rand McNally’s strong navigation and transportation expertise and our already deep bench of leading engineers focused on creating technology data solutions, we are confident that we will be moving the industry forward,” Felinski said. “We look forward to expanding our combined global business that writes a new chapter for connected transportation, led by technology.”
In recent years, Fleetsu has won several very high-profile vehicle fleet customers, including Toyota Motor Corporation, Australia. In 2021, Toyota selected Fleetsu as the platform to launch its Toyota Halo connected fleet management solution. Other Fleetsu customers include Avis, Budget, and Cummins.
Complementary Businesses Coming Together
Rand McNally is already an important technology partner to hundreds of the world’s best-known transportation and retail brands. The company provides hardware – such as video telematics and dash cameras – and software-as-a-service solutions – such as truck-specific navigation – to the transportation industry. Fleetsu brings a customer base reliant on its software solution designed to collect, analyse, and monetise critical fleet data.
During the next few months, the combined Rand McNally and Fleetsu teams – now Rand McNally – will work to integrate technologies for existing and new customers.