Michelin to acquire telematics providers Masternaut
Acquisition strengthens the French tire-maker’s presence in telematics business
Michelin has reached an agreement to acquire French telematics company Masternaut, the tiremaker said on 16 May. The company will buy out the entire share capital of Masternaut. The transaction has been made on the basis of eight times 2018 EBITDA before synergies. The two companies have not disclosed further financial details of the transaction.