Add-on Acquisition • Information Technology

EROAD Acquires Coretex

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

Acquisition Context

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.

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

Target Company

Coretex

San Diego, California, United States

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 Overview 1

Buyer

EROAD

Auckland, New Zealand

Category	Company
Founded	2000
Sector	Information Technology
Revenue	185M AUD (2025)

DESCRIPTION

EROAD 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 Context for Buyer	#
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

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