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  6. Element Acquires Car IQ

M&A Deal Summary

Element Acquires Car IQ

On December 2, 2025, Element acquired software company Car IQ

Acquisition Highlights
  • This is Element’s 1st transaction in the Software sector.
  • This is Element’s 3rd transaction in the United States.
  • This is Element’s 1st transaction in California.

M&A Deal Summary
Date 2025-12-02
Target Car IQ
Sector Software
Buyer(s) Element
Deal Type Add-on Acquisition

Target

Car IQ

San Francisco, California, United States
Car IQ provides a payment platform that enables vehicles, especially fleet vehicles, to pay directly for fuel, tolls, and other services without using physical cards. Car IQ was founded in 2016 and is headquartered in San Francisco, California.

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Buyer(S) 1

Buyer

Element

Toronto, Ontario, Canada
Category Company
Founded 2007
Sector Financial Services
Employees2,900
Revenue 2.2B CAD (2024)
DESCRIPTION

Element is a provider of equipment finance companies. Element operates across North America in four verticals of the equipment finance market – commercial & vendor finance, aviation finance, railcar finance and fleet management. Element was founded in 2007 and is based in Toronto, Ontario.

DEAL STATS #
Overall 5 of 5
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
State: California M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-14 Autofleet

Tel Aviv, Israel

Autofleet is a fleet and mobility solutions platform that streamlines and automates operations across industries, maximizing efficiency and customer experience. Autofleet is based in Tel Aviv, Israel.

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