Autofleet, an innovator in fleet and mobility solutions, entered into a definitive agreement to be acquired by Element Fleet Management, a publicly traded, pure-play automotive fleet manager.

“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,” Kobi Eisenberg, CEO of Autofleet, said. “We are incredibly proud to join forces with Element, a company that shares our commitment to advancing intelligent solutions within the fleet and mobility industries.”

“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,” Laura Dottori-Attanasio, president and CEO of Element, said. “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. Together, we will move the world through intelligent mobility.”

Autofleet will continue to operate independently post-acquisition.

“Our Autofleet journey started with a vision to empower fleet owners with advanced technology to optimize fleet operations,” Dor Shay, chief technical officer and co-founder of Autofleet, said. “This acquisition reflects our success in building a world-class optimization platform, and will allow us to continue to deepen our innovation and service offerings.”