Masternaut Three X sold to airports group

A LEEDS-based vehicle tracking specialist has been acquired by Europe’s second largest airport group.

Leeds-based Masternaut Three X has been bought by Masternaut International, a subsidiary of Hub Telecom owned by Aéroports de Paris.

The deal creates Europe’s largest fully integrated telematics, mobile resource and fleet management solutions organisation.

Martin Port founded the business in 2002 and grew the enterprise into one of Britain’s fastest growing businesses.

Port will remain at Masternaut Three X in his position as managing director.

Masternaut Three X employs 150 people across four sites in the UK and Ireland including Leeds, Skipton, Hull and Belfast. It also has an international office in Sydney, Australia.

The company specialises in vehicle and asset tracking technologies that help companies manage their assets more efficiently and reduce carbon emissions.

Famous clients include Harrods, United Biscuits, Nestle, Indesit and DHL.

“The acquisition of Masternaut Three X in the UK is a fantastic opportunity for Masternaut International and for Hub Telecom, its controlling shareholder,” said Frederic Dupeyron, deputy chairman of Masternaut International who will become board chairman of Masternaut Three X.

“Together we will share access to a vast pool of human resources, technological and managerial expertise, all backed by a large company listed on Euronext Paris. The new entity will benefit from the financial strength, reputation and international presence of Aéroports de Paris.”