MiX Telematics passes 600 000 subscribers milestone

MiX Telematics (JSE: MIX, NYSE: MIXT), a leading global provider of fleet and mobile asset management solutions delivered as software as a service (SaaS), announced that as at December 2016, it had accumulated over 600 000 active subscribers across its combined fleet and consumer customer base.

"As a SaaS business, growing our subscriber base and subscription revenue are key metrics for us. Passing the 600 000 subscriber mark is a great achievement, and demonstrates that our extensive product portfolio and global footprint continues to make MiX the telematics brand of choice for fleet operators and vehicle owners across the world," says Stefan Joselowitz, Group CEO of MiX Telematics.

The strong third quarter fiscal 2016/17 results were driven by general strength across the portfolio, including a positive contribution from energy sector customers, as well as the ongoing shift towards bundled deals, which also increases the long-term value per subscriber.

Joselowitz adds: "Based on our industry-leading integrated fleet management platform, product diversification, ongoing traction in key verticals and geographies, as well as commitment to sustain profitable growth, we believe that MiX is well positioned to maintain momentum for the remainder of the year - and beyond.

"We have worked extremely hard to reach this significant milestone and look forward to continued growth in the year to come," concludes Joselowitz.