Masternaut Three X, the vehicle tracking and mobile application specialist, 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, which is one of the UK’s fastest growing technology companies, creates the Europe’s largest fully integrated telematics and mobile resource management organisation.
Masternaut Three X employs 150 people across 4 sites in the UK and Ireland including Leeds, Skipton, Hull and Belfast. The company specialises in web-based vehicle and asset tracking solutions that help companies manage their assets more efficiently and reduce Carbon emissions. United Biscuits managed to cut out 3 million unnecessary road miles using the system. Other clients include Harrods, Nestle, Indesit, DHL and PHS. There are nearly 3000 Masternaut Three X customers and in the last financial year the company made revenues of £22m and profits of £2m EBITDA.
Masternaut Three X made a number of acquisitions over the last 3 years including the purchase 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. The company 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.
Martin Port who founded the UK business in 2002 grew the enterprise from a 3 person startup to one of Britain’s fastest growing businesses. He was the 2008 Ernst & Young Technology Entrepreneur of the Year. The business has been ranked in the Tech Track 100 league table for the last 3 consecutive years and in 2009 gained a place in the Deloitte Technology Fast 500 EMEA.
Port was recently chosen as one of Dell’s ‘Heroes’, a global advertising campaign that features successful entrepreneurs. Port will remain at Masternaut Three X in his position as Managing Director.
“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.