Michelin to acquire Masternaut.

Michelin, a French multinational tyre manufacturer, agreed to acquire Masternaut, one of the largest European telematics providers. Financial terms were not disclosed. "Michelin is consolidating its expertise in telematics, enabling us to optimize customer mobility and respond to the needs of a changing market. Masternaut represents a further step in the expansion of our Services & Solutions business, especially in Europe and for light vehicle fleets." Florent Menegaux, Michelin Managing General Partner.