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Cybit and Masternaut Combine Forces, Creating Europe's Leading Telematics Provider

Cybit and Masternaut
11 April, 2011

New organisation aims to save 20% on customers' fleet operating costs

11 April 2010 - Cybit and Masternaut, the industry's acknowledged leaders in vehicle tracking, fleet and driver management solutions, today announced that they have combined to form a single, pan-European telematics company. The new organisation, which retains the Masternaut name, will have more than 500 employees supporting a 10,000-strong customer base across 32 countries. The new Masternaut will offer industry-leading products and services, broad geographic reach and financial strength, creating the industry's 'pure play' telematics leader in Europe.
"The telematics market is undergoing rapid consolidation. As the pan-European market leader with the largest development team in the industry, Masternaut offers a clear choice for customers who want industry-leading products delivered by a strategic, long-term partner," said Bill Henry, who assumes the role of Masternaut Group CEO.  "By combining Cybit and Masternaut, we can innovate faster, increase our geographic reach, raise industry standards, and bring customers compelling opportunities for improved business performance."
The combination of Cybit and Masternaut enables the strategic evolution of telematics from a tactical operational tool, to an enterprise-wide, information management solution accessed from a single, cloud-based platform. The new Masternaut will deliver modular telematics applications that deliver step-changes for improving business performance, whilst enabling customers to save up to 20% on their fleet operating costs.

The Cybit-Masternaut agreement was overseen by technology-focused private investment fund, Francisco Partners, which acquired Cybit Holdings plc in 2009.
"Cybit and Masternaut have enjoyed great success as independent companies and joining forces will introduce a new level of service excellence in the telematics industry," said Deep Shah, Partner, Francisco Partners. "Global fleets want to manage their mobile workforces more effectively; we believe the new Masternaut fulfils an important role by providing the leadership that will embed telematics into a greater number of performance-driven businesses."

About Masternaut
Masternaut designs and delivers innovative solutions for managing the mobile workforce that enable customers and partners to achieve evolutionary step-changes in their performance and service delivery. Formed through the combination of established telematics providers, Cybit and Masternaut, the new Masternaut boasts the broadest range of telematics products, services and R&D capability in Europe. Individually, the companies represented some of the fastest-growing private technology firms in Europe. In 2010, Cybit was ranked 13th in the Sunday Times International Fast Track, having achieved more than 150% growth in sales during 2007-2010; whilst Masternaut has featured in the 2007, 2008 and 2009 Sunday Times (UK) Tech Track 100, and was also recognised on the Deloitte Fast 500 EMEA in 2009. Masternaut is headquartered in Leeds and has more than 500 employees and 10,000 customers across Europe.

Notes to Editors
Combined company facts:
-          More than 500 employees across Europe
-          More than 100 research and development professionals
-          More than 10,000 customers operating in 32 countries
-          The widest geographic reach across Western, Eastern and Northern Europe
-          The broadest solutions portfolio, including the Sustainability+ platform and patented, fuel-saving CANbus Connector

Contacts:

Masternaut, Priory Park, Great North Road, Aberford, Leeds, LS25 3DF
Telephone: 08444 150 150
Fax: 0113 281 4009
e-mail: info@masternaut.co.uk

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