Element Fleet Management announced it has entered into a definitive agreement to acquire Autofleet, an innovator in fleet and mobility solutions. Autofleet has a robust and highly scalable fleet optimization technology platform alongside optimized mobility solutions tailored for the fleet industry.
“Having previously worked with Autofleet and witnessed the common culture, commitment to clients, and focus on delivering impactful results that our two companies share, we are thrilled to welcome them to the Element organization as an integral part of our business," said Laura Dottori-Attanasio, Chief Executive Officer of Element. "We are confident their expertise will enable us to fast-track the modernization of our digital capabilities, enhance our ability to scale our core business more quickly, and ultimately deliver increased value to our clients and shareholders."
Founded in 2018, the firm boasts a skilled team of approximately 70 professionals including developers, engineers, and data scientists. Element anticipates that the combination of its own scale, market leadership, and comprehensive fulfillment capabilities with Autofleet's digital, data, and cloud capabilities, will advance its purpose to Move the World Through Intelligent Mobility and unlock new revenue streams for both companies.
“This partnership represents a powerful alignment of two companies with shared aspiration and cultures, and enables us to leverage Element’s commercial organization and leadership to accelerate new growth areas for the business,” said Kobi Eisenberg, Chief Executive Officer of Autofleet. “We are incredibly proud to join forces with Element, a company that shares our commitment to advancing intelligent solutions within the fleet and mobility industries.”
The completion of the acquisition is subject to customary closing conditions, and the terms of the transaction remain undisclosed. The Company expects the transaction to close in early Q4 2024.
Element Fleet Management has entered into a definitive agreement to acquire Autofleet, an innovator in fleet and mobility solutions. Autofleet has a robust and highly scalable fleet optimization technology platform alongside optimized mobility solutions tailored for the fleet industry.
“Having previously worked with Autofleet and witnessed the common culture, commitment to clients, and focus on delivering impactful results that our two companies share, we are thrilled to welcome them to the Element organization as an integral part of our business," said Dottori-Attanasio. "We are confident their expertise will enable us to fast-track the modernization of our digital capabilities, enhance our ability to scale our core business more quickly, and ultimately deliver increased value to our clients and shareholders."
Founded in 2018, the firm boasts a skilled team of approximately 70 professionals including developers, engineers, and data scientists. Element anticipates that the combination of its own scale, market leadership, and comprehensive fulfillment capabilities with Autofleet's digital, data, and cloud capabilities, will advance its purpose to Move the World Through Intelligent Mobility and unlock new revenue streams for both companies.
“This partnership represents a powerful alignment of two companies with shared aspiration and cultures, and enables us to leverage Element’s commercial organization and leadership to accelerate new growth areas for the business,” stated Kobi Eisenberg, Chief Executive Officer of Autofleet. “We are incredibly proud to join forces with Element, a company that shares our commitment to advancing intelligent solutions within the fleet and mobility industries.”
The completion of the acquisition is subject to customary closing conditions, and the terms of the transaction remain undisclosed. The Company expects the transaction to close in early Q4 2024.