M&A Deal Summary

EROAD Acquires Coretex

On July 14, 2021, EROAD acquired information technology company Coretex for 188M NZD

Acquisition Highlights
  • This is EROAD’s 1st transaction in the Information Technology sector.
  • This is EROAD’s largest (disclosed) transaction.
  • This is EROAD’s 1st transaction in the United States.
  • This is EROAD’s 1st transaction in California.

M&A Deal Summary
Date 2021-07-14
Target Coretex
Sector Information Technology
Buyer(s) EROAD
Deal Type Add-on Acquisition
Deal Value 188M NZD

Target

Coretex

San Diego, California, United States
website
Coretex is a provider of vertically specialized enterprise-grade telematics solutions in North America, Australia, and New Zealand. The company delivers compliance and fleet management solutions to more than 60,000 connected vehicles in the construction, mixed fleet, and waste and recycling industries. Coretex’s cloud-based visualization software helps customers worldwide turn rich data into automated business intelligence to enhance safety, reduce waste and improve productivity. Its cloud-based software platform and in-vehicle sensor technology have been proven over 16 years in the most demanding sectors possible: construction, refrigerated transport, and waste. Coretex was formed in 2015 and is based in San Diego, California.

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Buyer(S) 1

Buyer

EROAD

Auckland, New Zealand

website

Category Company
Founded 2000
Sector Information Technology
Revenue 85M NZD (2021)
DESCRIPTION

EROAD is an entity which develops and markets technology solutions to manage vehicle fleets, support regulatory compliance, improve driver safety and reduce the costs associated with operating a fleet of vehicles and inventory of assets. The company has a proven SaaS business model and is experiencing continuous growth in installed units and revenue. It has operations in New Zealand, North America, and Australia with customers ranging in size from small fleets through to large enterprise customers. EROAD was founded in 2000 and is based in Auckland, New Zealand.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

Company

Legal