Netherlands based fleet management solutions and telematics service provider TomTom has acquired Spain based fleet management company Coordina for an undisclosed sum.
With the acquisition, TomTom expects to strengthen its position in Europe as provider of fleet management services and also expand the web based "Software as a Service (SaaS) offering.
TomTom Business Solutions managing director Thomas Schmidt said the acquisition of Coordina will enable the company to deliver products in combination with its TomTom WEBFLEET services to more Spanish fleets faster.
"It gives us also access to a first class team with a similar culture, a broad and strong local sales network and a well-established local service hub," Schmidt added.
"The large, currently underpenetrated Spanish market, is expected to grow strongly during the next years."
Following the transaction, TomTom will add 27,000 subscriptions from Coordina to its active installed base of over 300,000 vehicles.
