Fleetmatics to float on New York Stock Exchange
Fleet management company rolls into Wall Street
TechTrade | 05 Oct 2012 :
Dublin-based fleet management software company Fleetmatics has announced its floatation on the New York Stock Exchange. The initial public offering of 7,812,500 shares of common stock will price to the public of $17.00 per share. The shares are expected to begin trading on 5 October, 2012 under the symbol FLTX.
Fleetmatics targets small and medium-sized businesses, delivering as software-as-a-service solutions under the Fleetmatics and SageQuest brands.
Fleetmatics' 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. It serves more than 15,000 customers, tracking more than 250,000 vehicles worldwide.