Fleet card provider FleetCor Technologies has acquired Telenav, which sells technology that tracks the location of truck drivers and mobile workers who buy gas and make other work-related purchases while on the job.
FleetCor will also obtain Telenav's enterprise business, which has about 8,000 business clients and marketing relationships with AT&T, Sprint and Verizon.
"This transaction will provide us with a set of mobile applications and capabilities designed specifically for a business workforce that is predominantly field based, exactly the same profile as our fuel card clients. We hope to tailor the Telenav application to become a valued add-on to our fuel card programs the world over," said Ron Clarke, chairman and chief executive officer of FleetCor, in a press release.
FleetCor's programs help businesses monitor and set parameters for employee spending. Established in 2000, it serves more than 500,000 commercial accounts and more than 800 partners in North America, Europe, Asia and Africa. The company's partners include Chevron, CLC Lodging, British Petroleum, Citgo, Fuelman and MasterCard.
