Element Fleet Management to acquire Car IQ.

Element Fleet Management, a pure-play automotive fleet manager, agreed to acquire Car IQ, a San Francisco–based technology company specialized in connected vehicle payments. Financial terms were not disclosed. "Car IQ was built to enable vehicles to seamlessly interact with the physical world. By joining Element, we can accelerate adoption and deliver a broader suite of payment capabilities to more fleets. Together, we will modernize how vehicles pay for everyday services and unlock new data-driven value for clients," Sterling Pratz, Car IQ Founder and CEO.