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Enterprise Rent-A-Car Germany has announced the signing of an agreement to acquire CARO Autovermietung GmbH. The combined business will have more than 200 locations and a fleet of appoximately 17,000 vehicles.
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Intel will acquire Israeli autonomous driving technology provider Mobileye for $15 billion under an agreement announced March 13 that brings the Silicon Valley chipmaker into the emerging autonomous-driving sector.
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Element Fleet Management increased operating income 45% and increased service and other revenue to 55% of total revenue in 2016, due in large part to its part to its acquisition-oriented growth strategy, the company announced.
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The CEI Group and Element Fleet Management North America will operate as separate entities.
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Scott Mawaka has acquired Cleveland-based Fleet Response from his father and other investors so the company can remain a privately-held family-run business.
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Pep Boys has acquired the privately-held Just Brakes chain of repair and maintenance stores in a deal that will increase the chain's network to more than 900 locations.
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Consolidation among telematics providers in 2016 could create opportunity in 2017 for greater differentiation, increased connectivity, better pricing, and more standardization of features for fleets who add this technology, according to fleet management company experts.
Read More →The merger will consolidate the fleet-related services of both companies with the goal of targeting new markets and service lines.
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Element Fleet Management Corp. has purchased fleet safety and accident management provider The CEI Group, the company announced.
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Telematics mergers, Ford's updated van lineup, safety tips, and Hyundai's holiday executive shakeup generated the highest reader engagement on AutomotiveFleet.com in 2016 among news items.
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