Herbert Smith Freehills has advised the founders of internet of things (IoT) company, MTData on its sale to Telstra.
MTData provides innovative 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. Founded in 2003, it was recognised in Deloitte’s Technology Fast 50 List for three consecutive years between 2009 and 2011.
MTData will now form a key pillar of Telstra’s Connected Vehicle offering.
The Herbert Smith Freehills team was led by partner Nick Baker and included senior associate Kam Jamshidi and solicitors Andrew Frawley and Robert Prosser.
Nick Baker said, “It is always satisfying to help entrepreneurs realise an exit and transition their company to new ownership.
“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.”
EY provided financial and tax advice to the MTData founders. Gilbert + Tobin advised Telstra.
This deal is another example of Herbert Smith Freehills’ market-leading work in the Industrials sector, in particular with an IoT focus. Other recent examples include advising:
- IFM Investors’ private equity arm on its acquisition of a majority stake in specialist software platform, Genie Solutions.
- Car fleet, car rental and employer clients on the collection, use and sharing of driver and vehicle location and other telematics data.
- Transurban in relation to privacy, data security and data governance issues in relation to toll road gantries and road user vehicle tags.
- CHAMP Private Equity on sale of LCR Group, a transport and logistics business, to Archer Capital.