Fleetmatics Group Plc, the global provider of software-as-a-service (SaaS)-based mobile workforce solutions for service-based businesses of all sizes, has acquired Florence, Italy-based KKT Srl, the developer of Routist, a SaaS-based, intelligent vehicle routing solution for businesses looking to optimise the utilisation of their fleets and mobile resources.
Price and terms of the deal have not been disclosed. Revenue contribution during 2014 is expected to be immaterial, and the transaction is expected to be $0.01 per share dilutive for second quarter non-GAAP results.
Via its sophisticated algorithms, Routist provides optimised route plans for vehicles making multiple stops during the day, and provides opportunities for companies to achieve significant cost savings by helping to reduce miles driven, fuel consumption, and vehicle maintenance costs. Routist's complex and flexible optimisation engine is able to take into consideration locations, vehicles, time windows, technician skills, costs and capacities, among other inputs, while remaining simple and intuitive for customers to use.
"Our solutions already enable our customers to reduce costs significantly; we can now help them achieve even more savings through route optimisation," said Peter Mitchell, CTO for Fleetmatics. "With the Routist team, we have added critical expertise in this specialized area. Combining complex optimisation algorithms with an intuitive user experience isn't easy, but their team has done this superbly; adding Routist's technology to our world-class business intelligence platform just makes sense."
Fleetmatics plans to integrate the Routist solution with Fleetmatics REVEAL, a highly-differentiated, business-intelligence based fleet management solution; and Fleetmatics WORK, a powerful field service management solution for small- and mid-sized businesses. Once integrated, Routist will be offered as an add-on to the company's existing solutions.
"We are excited to have the talented team that worked on the Routist product join Fleetmatics," said Jim Travers, Fleetmatics CEO and Chairman of the Board. "Their expertise and knowledge around vehicle routing, a very complex problem that fleet owners have traditionally tried to solve manually, will help us further differentiate our solutions and provide additional value and ROI to our customers."