Telstra wins big with IoT acquisition
Telstra has acquired an internet of things (IoT) company, which provides GPS telematics and fleet management technology to customers in Australia and globally across a variety of industries.
Firms: Herbert Smith Freehills (MTData); Gilbert + Tobin (Telstra)
Deal: The founders of MTData have been advised on the sale of the company to Telstra.
Key players: The Herbert Smith Freehills team was led by partner Nick Baker and included senior associate Kam Jamshidi and solicitors Andrew Frawley and Robert Prosser.
Deal significance: MTData is an internet of things (IoT) company, which provides GPS telematics and fleet management technology to customers in Australia and globally across a variety of industries, from transport and logistics to forestry and agriculture.
The company creates solutions that help customers to improve fleet productivity and efficiency through technology.
According to a statement from Herbert Smith Freehills, this transaction will see MTData form a key pillar of Telstra’s connected vehicle offering.
“It is always satisfying to help entrepreneurs realise an exit and transition their company to new ownership,” lead partner Nick Baker said.
“MTData’s strong synergies with Telstra, both in terms of technology and culture, augers well for a successful partnership and we look forward to seeing its continued growth.”