Element Fleet Acquires Autofleet to Boost Digital Capabilities

Element Fleet Management, a leading global fleet management company, has entered into a definitive agreement to acquire Autofleet, which is renowned for its advanced fleet optimization technology and tailored mobility solutions. This strategic move is poised to enhance Element's digital capabilities, bolster its ability to scale, and deliver significant value to its clients and shareholders.

“Having previously worked with Autofleet and witnessed the common culture, commitment to clients, and focus on delivering impactful results that our two companies share, we are thrilled to welcome them to the Element organization as an integral part of our business. We are confident their expertise will enable us to fast-track the modernization of our digital capabilities, enhance our ability to scale our core business more quickly, and ultimately deliver increased value to our clients and shareholders,” says Laura Dottori-Attanasio, President and CEO, Element. 

The acquisition aligns seamlessly with Element’s strategic vision of leveraging technology to modernize its offerings. By integrating Autofleet’s scalable digital platform with Element’s extensive operational scale and resources, the company aims to accelerate growth and seize new opportunities within the rapidly changing mobility landscape. This partnership represents a significant step towards Element’s goal of driving the future of intelligent mobility.

“This partnership represents a powerful alignment of two companies with shared aspirations and cultures, and enables us to leverage Element’s commercial organization and leadership to accelerate new growth areas for the business,” says Kobi Eisenberg, CEO, Autofleet.

Autofleet’s team of developers, engineers, and data scientists will continue to operate independently, focusing on innovative solutions that meet the diverse needs of fleet customers across various industries. The acquisition provides Autofleet with access to Element’s vast resources and operational scale, which will enable them to further enhance their product offerings and accelerate their growth trajectory.

Element anticipates that the combination of its own established market leadership with Autofleet’s digital, data, and cloud capabilities will strategically position the company to lead in the next era of fleet management. The acquisition is a purpose-driven move, designed to enhance Element’s ability to deliver intelligent mobility solutions, meeting the dynamic demands of the industry.

While the financial terms of the transaction remain undisclosed, the acquisition is expected to close in early 4Q24, subject to customary closing conditions.