GPS fleet tracking company Eroad has bought Auckland-based Coretex for $157.7m. Photo / 123RFDual-listed Eroad, which specialises in GPS fleet-tracking systems, said it had gone into a trading halt while it raised funds to buy Auckland-based Coretex, for $157.7m. Coretex has connected units in North America, Australia and New Zealand, with a focus on less than a truck load (LTL), refrigerated transport, construction, and waste and recycling. Eroad said Coretex had a well-advanced pipeline of North America Enterprise customers. "Accelerating our key growth metrics by two years in North America and Australia and positioning us to become a bigger player in the global telematics market.

Source: New Zealand Herald July 13, 2021 22:41 UTC