Fleetmatics Drives Significant Global Growth As Vehicles Under Subscription Surpasses 625,000
-- Subscriber Base Expands 25% Over Last Year
DUBLIN and BOSTON, Aug. 7, 2015 /PRNewswire/ -- Fleetmatics Group PLC (NYSE: FLTX), a leading global provider of software-as-a-service (SaaS)-based mobile workforce solutions for service-based businesses of all sizes, today announced it has exceeded a milestone of 625,000 active vehicles under subscription, adding more than 125,000 vehicles in the past year while significantly expanding its global footprint.
Logo - http://photos.prnewswire.com/prnh/20150220/176914LOGO
"Fleetmatics continues to experience rapid subscriber growth and this milestone further validates the Company's market leading position," said Johan Fagerberg, Chief Executive Officer of Berg Insight, a leading market research firm focused on the fleet management market. "We believe the success that Fleetmatics has achieved in considerably growing its subscriber base over the last decade reflects an aggressive global expansion strategy supported by industry-leading technology and highly-differentiated go to market approach."
"Exceeding 625,000 subscribed vehicles and growing our subscriber base by 25% over the last year are significant milestones for our Company," said Jim Travers, Fleetmatics Chairman and CEO. "What's more, I believe we are well positioned to meet our stated goal of reaching 1.2 million vehicles under subscription by 2020. We will do this by continuing to focus on increasing our market leading position in North America and building and expanding our presence in select global markets."
Fleetmatics, which serves 29,000 SMB and enterprise customers throughout the United States, Canada, Mexico, Ireland, the United Kingdom, Netherlands, France and Australia, has built strong momentum over the past year. Through global expansion, investment in its technology and strategic acquisitions, the Company's growth has been supported by the recent launch of three new SaaS-based products with ground-breaking new features. Fleetmatics REVEAL, Fleetmatics REVEAL+ and Fleetmatics WORK incorporate the Company's diverse expertise, providing simple-to-use, yet powerful solutions, tailored to the needs of different sized businesses across a broad range of industries.
The Company recently announced Fleetmatics Routist, an intelligent routing optimization solution that systematically builds the most cost-effective, customer-friendly routes for fleets, which will be generally available later this year.
About Fleetmatics Group PLC
Fleetmatics Group PLC (NYSE: FLTX) is a leading global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS). Our solutions enable businesses to meet the challenges associated with managing local fleets, and improve the productivity of their mobile workforces, by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data. Fleetmatics Group's intuitive, cost-effective Web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage, and other insights into their mobile workforce, enabling them to reduce operating and capital costs, as well as increase revenue. An integrated, full-featured mobile workforce management product provides additional efficiencies related to job management by empowering the field worker and speeding the job completion process - quote through payment. As of June 30, 2015, Fleetmatics served approximately 29,000 fleet management customers, with approximately 625,000 subscribed vehicles worldwide. Fleetmatics has used, and intends to continue to use, the investor relations portions of its website as a means of disclosing material non-public information and for complying with disclosures obligations under Regulation FD. To learn more about Fleetmatics, visit www.fleetmatics.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the market opportunity. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Fleetmatics' actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, risks associated with our ability to effectively and efficiently attract, sell to and retain customers; our ability to retain and increase sales to existing customers; our ability to successfully complete and integrate acquisitions (including the Ornicar transaction); expectations regarding the market opportunity for fleet management solutions; our ability to expand sales of our products in new and existing geographies; our ability to continue to compete in a highly fragmented market; the risk of future competitors by way of acquisition or otherwise; and the impact of adverse economic conditions on information technology spending by our target customers. For a more detailed description of the risk factors associated with Fleetmatics, please refer to the Company's annual report on Form 10-K filed with the Securities and Exchange Commission on March 17, 2014 and subsequent filings with the Securities and Exchange Commission. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
Investor Relations:
Fleetmatics Group PLC
Brian Norris, +1-781-250-3829
Vice President of Investor Relations
brian.norris@fleetmatics.com
or
Public Relations:
Juli Burda, +1-847-378-4398
Director of Public Relations
juli.burda@fleetmatics.com
Share this article