MiX Telematics surpasses 700 000 subscribers
MiX Telematics (MIXT: NYSE), a leading global provider of fleet and mobile asset management solutions, this week announced that it has surpassed the 700 000 subscriber mark.
This milestone was achieved by continued growth in its key markets, which saw more than 22 000 net new subscribers added in the second fiscal quarter, ending September 2018.
"Growing our subscriber base and subscription revenue are key metrics for us, so achieving well over 700 000 subscribers is a great milestone," says Stefan Joselowitz, Group CEO of MiX Telematics.
MiX Telematics' broad product portfolio and diverse revenue streams, backed by a strong focus on driving ongoing customer value through continuous innovation and personalised service, have driven positive subscriber growth globally across multiple market verticals.
Since listing on the NYSE five years ago, MiX has grown its subscriber base at a double-digit compound annual growth rate, further enhancing its position as a global leader in both fleet and consumer telematics.
"Our growth, driven by new customer acquisitions and retention, is a testament to our brand being recognised as a trusted provider of telematics solutions, globally," concludes Joselowitz.
Founded in 1995, MiX Telematics is a global provider of driver safety, vehicle tracking and fleet management products and services to consumers and companies of all sizes in 111 countries across six continents. The company's commercial product range helps fleet owners ensure driver and passenger safety, reduce fleet running and fuel costs, comply with industry regulations, and track and protect vehicles and drivers. Commercial customers include Parmalat, Schlumberger, Chevron, Greyhound, Spar, De Lijn, Vectalia-Subus and Scania. MiX Telematics has offices in South Africa, Uganda, the United Kingdom, North America, Australia and the United Arab Emirates, and works via an extensive global distribution network.
For more information, please visit www.mixtelematics.com.
View this news release online at: http://www.businesswire.com/news/home/20120620005661/en