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Masternaut Acquires Mobile Division From GE

GE Mobile Solutions
18 September, 2006

Leeds-based technology firm Masternaut has acquired GE Mobile Solutions for an undisclosed sum.

Masternaut, which provides real time vehicle tracking, has purchased the Skipton-based business to consolidate its position as the UK's leading technology firm serving the fleet management industry.

The deal takes Masternaut's turnover to 10.5million and its total number of employees to over 100 people.

Masternaut's technologies deliver business benefits to companies throughout the UK in local government, service and transport sectors by companies such as Unipart, TNT and Carillion.

In addition to Masternaut's current product portfolio which includes vehicle tracking, routing, scheduling, traffic information and reporting, the company is working to develop standardised toll road technologies.
GE Mobile Solutions' product range fits perfectly with Masternaut's product strategy. The technology allows office-based personnel to dynamically allocate work to field-based employees accurately and securely via hand held computers. This speeds up the transmission of information, improves data accuracy and increases efficiency and profitability.

The business works across nine European countries and its client base includes a number of multi-national companies.

Managing director, Martin Port, expects contract values to rise to 20million over the next 12 months as a direct result of being able to offer comprehensive, fully-integrated mobile solutions to both new and existing customers.

Martin Port commented: "GE Mobile Solutions is a perfect strategic fit for Masternaut, particularly as their business proposition to is similar to ours. By integrating both product ranges we will be able to offer the most comprehensive range of mobile solutions currently available, helping businesses streamline and automate their processes, eliminate inefficiencies, and most importantly save money."

"Acquiring a business of the stature of GE Mobile Solutions illustrates the ambitions we have to maximise Masternaut's dominant market position and, we believe, a 100 per cent upturn in sales will be possible over the next year."

Masternaut's technology works by fitting a black box to the vehicle, which logs events minute by minute including time, date, vehicle position, distance and speed travelled. This information is relayed in real-time to Masternaut's Communication Centre and made available to individual businesses via the Internet.

GE Mobile Solutions, formerly Three-X Communications was founded in 1984 and acquired by General Electric in 1995. The current GE Mobile Solutions business will return to the name Three-X Communication Ltd, and will be expanded with operations continuing from the current offices in Skipton, Yorkshire.
Visit GE Mobile Solutions website.

Contacts:

Contact Details for Press Information: Paula Lumley. Masternaut tel: 0113 2814025

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