Motus, a Boston-based provider of vehicle management and reimbursement software, has been acquired by private equity firm Thoma Bravo and merged with a Midwest competitor.
Thoma Bravo, which owns Boston-area companies like Dynatrace and Imprivata, announced the deal on Wednesday, saying that the combined organization of Motus and Wisconsin-based Runzheimer will give it approximately 2,000 customers, which includes Fortune 500 companies like Coca-Cola, Kellogg's and National Grid. Craig Powell, CEO of Motus, will lead the merged entity.
Terms of the deal were not disclosed.
"As employee mobility continues to rise, the need for solutions that are tailored to address the unique challenges that drivers and their employers face has emerged."
Motus, which was founded in 2004, provides a vehicle management and reimbursement software platform for companies with mobile workers that drive over 5,000 miles per year. As of July 2017, the company had 100 employees.
"As employee mobility continues to rise, the need for solutions that are tailored to address the unique challenges that drivers and their employers face has emerged," Powell said in a statement. "Forward-thinking customers want more than just a mileage reimbursement solution – they want access to a broad array of solutions and data analytics that enhance overall fleet productivity. Bringing Motus and Runzheimer under one roof creates the opportunity to better meet this demand by providing the advanced tools businesses need to better run their fleets."
