The acquisition has been made for an initial cash consideration of US$8.0 million before working capital adjustments plus potential earn-out payments up to US$17 million.

BSM said the transaction enhances its commercial fleet management solutions to include planning, scheduling, route optimization and fleet analytics. 

“We are continuously working to strengthen our competitive position and overall value proposition with innovative solutions that further entrench us with our customers and ultimately better serve their needs, increasing overall customer satisfaction,” said Aly Rahemtulla, BSM's president and CEO. “Through our acquisition of Mobi, we are able to move beyond collecting and reporting data toward providing our customers with solutions to optimize their daily operations. In addition, the acquisition will add predominantly SaaS recurring revenue and will drive EBITDA margin expansion.” 

He added:  The ease of technology integration between our products, combined with the positive feedback from our customers, gives us confidence that this acquisition will further expand our customer footprint and provide opportunities for future growth by offering enriched solutions to commercial fleet operators.”