Belgian family-owned holding company Grandis has purchased Innovacom’s stake in Mobile Devices Ingénierie, a developer of telematic solutions for vehicle fleets.

Founded in 2002, Mobile Devices Ingénierie develops on-board terminals for monitoring vehicle fleet data (such as fuel consumption, mileage and various driving parameters) with solutions that are tailored to match route characteristics. 

After first targeting the B2C market, the company, which employs 70 people, developed a B2B business model and now focuses on large clients and contracts worth several million dollars. Its clients therefore include automotive equipment makers and insurance companies. Based in Villejuif, near Paris, the company posted revenue of about 10 million euros in 2014 and is highly export oriented.

Advised by Financière Cambon, Grandis purchased venture capital firm Inovacom’s stake in Mobile Devices Ingénierie in December 2014 and injected an additional 2.5 million euros.