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Europe's 2nd largest Airports group acquires Masternaut Three X creating Europe's largest Vehicle Tracking Company

Europe
(Left to right) Martin Port- Masternaut UK, Jean Verdier- Masternaut Int & Hub Telecom, Frédéric Dupeyron- Director General Hub Telecom & Chairman Masternaut UK, Amanda Port & Simon Bellamy- Masternaut UK and Laurent Favre- Hub Telecom & Masternaut UK
1 December, 2009

Leeds, UK, 01 December 2009 - Masternaut UK Ltd (known as Masternaut Three X) the vehicle tracking and mobile application specialist and one of the UK's fastest growing technology businesses has been acquired by Masternaut International, a subsidiary of Hub Telecom owned by Europe's second largest Airport group, Aéroports de Paris. The purchase of the UK business creates the Europe's largest fully integrated telematics, mobile resource and fleet management solutions organisation.
 
Martin Port who founded the UK business in 2002 grew the enterprise from a three person startup to one of Britain's fastest growing businesses. He was the 2008 Ernst & Young Technology Entrepreneur of the Year and the business has been ranked in the Tech Track 100 league table for the last three consecutive years in addition to a 2009 place in the Deloitte Technology Fast 500 EMEA.  This is all thanks to an annual growth rate that exceeds 60%. Martin Port recently made the headlines having been chosen as one of Dell's 'Heroes', a global advertising campaign that features successful entrepreneurs. Martin Port will remain at Masternaut Three X in his position as Managing Director.
 
Masternaut Three X employs 150 people across 4 sites in the UK and Ireland including Leeds, Skipton, Hull and Belfast with an international office in Sydney, Australia. The company specialises in vehicle and asset tracking technologies that help companies manage their assets more efficiently and reduce Carbon emissions. One of its clients United Biscuits managed to cut out three million unnecessary road miles using the system. Other famous clients include Harrods, Nestle, Indesit, DHL, PHS, fellow entrepreneur Duncan Bannatyne and Dragon's Den Winners Igloo Thermologistics. The company who is fast approaching 3000 customers in the UK made revenues of c.£22m in 08/09 and saw profits of over £2m EBITDA in the same period.
 
Masternaut Three X also made a number of acquisitions of its own over the last three years including the acquisition of Three X mobile solutions from GE in 2006. In 2008 the firm acquired internet service provider Fibre City and Microsoft Gold Partner ICM Business Solutions. Masternaut Three X owns a minority stake in Masternaut Australia and also in Sanef Tolling in the UK which was set up in 2008 to conduct road user charging trials for the Department for Transport.
 
 "This is a fantastic milestone for the business. It's testament to the passion, devotion and commitment of our talented teams of people. We've delivered on our promises time after time for clients, and this has fueled the growth of the business. This deal creates the largest fleet tracking company in Europe, backed by the experience and resources of Europe's 2nd largest airport operator whose annual revenues exceed 2.5 billion Euros. For the future it enables Masternaut International to accelerate its international growth and also enables us to better serve international clients," said Martin Port.
 
"The acquisition of Masternaut Three X in the UK is a fantastic opportunity for Masternaut International and for Hub Telecom, its controlling shareholder," said Frederic Dupeyron, the Deputy Chairman of Masternaut International who will also become the Chairman of the Board of Masternaut Three X. "Together we will share access to a vast pool of human resources, technological and managerial expertise, all backed by a large company listed on Euronext Paris. The new entity will benefit from the financial strength, reputation and international presence of Aéroports de Paris. In addition we will reap the benefit of reduced time to market for the next generation of mobility solutions plus the UK's Three X Business Workflow Application Software will complement Masternaut's business throughout Europe."
 
Advisors to Masternaut Three X and its shareholders include corporate finance specialists Deloitte and Mazars, and solicitors were Fladgate and Brooke North. Advisors to Masternaut International were Lorentz Deschamps and Associates, PwC Transaction Services and Bredin Prat.

Editorial enquiries please call Robert Peel +44 (0)1666 823306.
Please FAX any colour sep. requests to fax no 01666 824668
READER ENQUIRIES to Martin Port at Masternaut Three X - +44 (0)113 281 4000
Email: media@masternaut.co.uk, Web:www.masternaut.co.uk

About Masternaut Three X

Masternaut Three X provides end-to-end solutions for businesses on the move, including vehicle tracking, mobile workflow applications and Microsoft Dynamics business management software. The company's unique GreenerFleet solution enables fleet operators to drive down their environmental impact, reducing emissions and slashing fuel costs. In addition, Masternaut Three X provides innovative solutions to support Duty of Care initiatives. Masternaut Three X is a Microsoft Gold Partner. The company has won a place in the Sunday Times Tech Track 100 for three years in a row: 2007, 2008 and 2009, highlighting that it is among the fastest growing technology firms in the UK.

For more information, visit the website www.masternaut.co.uk

About Masternaut International

Part of the Hub Telecom group, a major player on the telecom market and occupational mobility, Masternaut is the European leader for geolocalisation and telematics services with an installed base of over 110 000 vehicles. A specialist mobile resource management company since 1996, its Masternaut offers combine innovative geotracking solutions with vehicle navigation, geosecurity and eco-driving. The packaged solutions or custom Masternaut solutions integrate hardware, software and services to meet the needs of its customers SOHO, SME and large enterprises. With a turnover of more than 40 million euros in 2008 and a network of distributors in 8 European countries (UK, Ireland, Germany, Belgium, Switzerland, Italy, Spain and Portugal ) Masternaut meets the mobility needs of over 5,000 companies.

For more information, visit the website www.masternaut.com

About Aéroports De Paris

Aéroports de Paris builds, develops and manages airports including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. Aéroports de Paris is Europe's second-largest airport group in terms of airport revenue and the European leader for freight and mail. Aéroports de Paris accommodates nearly 460 airlines, including the main companies in the air transport industry. With an exceptional geographic location and a major catchment area, the Group is pursuing its strategy of adapting and modernizing its terminal facilities and upgrading quality of services, and also intends to develop its retail and real estate business. In 2008, Aéroports de Paris had revenues of ?2,527 million, and the Group handled 87.1 million passengers.

For more information, visit the website www.aeroportsdeparis.fr

About Hub Telecom

Hub Telecom Group is a specialised subsidiary of group Aéroports de Paris. It consists of Hub telecom, a specialised telecom operator, Hub Telecom Region, a leading French business in identification and traceability of goods and commodities, and masternaut, Europe's leading location-based services and telematics. Mastering the three areas of expertise in telecoms, geolocation and tracking, the group is uniquely positioned as the benchmark in the telecom market and occupational mobility. Besides its presence on most French airports, the Group Hub Telecom is based from 9 regional branches in France and a network of distributors in 8 European countries. Hub Telecom also operates the telecoms of the main Parisian exhibition centre, Parc des Expositions de la Porte de Versailles, and through the joint venture CiresTelecom, the port of Tangiers in Morocco. Backed by a large service company, Hub Telecom has the resources and stability necessary to ensure its commitment to quality for its customers. With a turnover of around 120 million euros and a workforce of 550 employees, the Group Hub Telecom daily meets the needs of over 6500 companies in Europe.

For more information, visit the website www.hubtelecom.com

Contacts:

Masternaut Three X, Priory Park, Great North Road, Aberford, Leeds, LS25 3DF
Telephone: 0113 281 4000
Fax: 0113 281 4009
e-mail: info@masternaut.co.uk

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