Fleetio, a Birmingham-based fleet optimization software platform, has acquired Auto Integrate, a maintenance authorization platform.
In addition, Fleetio announced it had raised $450 million to finance the acquisition, which creates a business with a combined value of $1.5 billion. The combined company will service more than 8 million vehicles through a network of more than 110,000 repair shops in the U.S., Canada and Mexico, Fleetio says.
“This acquisition is transformative for our ability to equip customers with the simplest and most efficient solution for fleet maintenance and management,” said Jon Meachin, CEO of Fleetio. “By bringing together Fleetio’s comprehensive fleet optimization capabilities with Auto Integrate’s specialized maintenance authorization network, we’re creating a truly customer-focused, end-to-end solution that addresses the most critical pain points fleet operators face today.”
Fleetio was founded in 2012. Terry Bartlett, CEO of Auto Integrate, will join the leadership team of the combined company.
