Investcorp makes new investment in FleetMatics, a market leader in vehicle fleet management systems

Published December 26th, 2010 - 17:04 GMT

Mohammed Al-Shroogi, President of Gulf business, Investcorp

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Investcorp, the asset management firm specialising in alternative investments, announced today that it has made a new investment in FleetMatics, one of the fastest growing software providers of GPS-based vehicle fleet management systems to small and medium-sized businesses, and a market leader in fleet management in the US, UK and Ireland.

FleetMatics has live Web-based GPS vehicle tracking services that enable business owners to track and manage their vehicles, reducing operating costs, increasing productivity and improving customer services.

Investcorp's President of Gulf business, Mohammed Al-Shroogi said: "FleetMatics is a company we know well, and one in which we have made a previous investment through our third technology fund. The management team has a proven record of providing exceptional results while driving down the cost of customer acquisition, hardware development service and support. Our new investment in the company is testament to these strong characteristics. We look forward to working with FleetMatics' management over the next stage of its growth and to creating value for our investors".

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Background information

Investcorp is a leading provider and manager of alternative investment products. It has offices in Kingdom of Bahrain, New York and London and is publicly traded on the Bahrain Stock Exchange. More...

Investcorp is a leading provider and manager of alternative investment products. It has offices in Kingdom of Bahrain, New York and London and is publicly traded on the Bahrain Stock Exchange.

Investcorp has three business areas: corporate investment in the Gulf, US and Europe, real estate investment in the US and global hedge funds.

Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography. As at September 30, 2010 Investcorp had $11.9 billion in assets under management.

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Contact Information:

Investcorp Bank B.S.C.
PO Box 5340
Manama, Bahrain

http://www.investcorp.com

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