Komatsu has acquired fleet management systems company iVolve in an effort to reach a broader global market and increase its footprint.
“We are thrilled to become part of the Komatsu family,” iVolve chief executive officer and co-founder Kim Parascos said.
“We have enjoyed a long working relationship with Komatsu and believe this agreement aligns with our goals and vision, and importantly, the resources of Komatsu will help us achieve our growth goals.”
Parascos said that the company will aim to widen its market presence, elevate its production line, and preserve flexibility for its customers as a Komatsu brand.
“Our existing customers will also benefit from this new alignment, as we leverage the expertise, commitment and reach of Komatsu to improve our offering,” Parascos said. “iVolve will continue to offer solutions on a wide range of platforms in support of its expanding customer base.
“iVolve was founded on the core values of ‘simple, intelligent, and commitment’ and this continues to drive everything we do. We will foster our brand and culture through this new phase of our development.”
Komatsu Australia chief executive officer Sean Taylor said the acquisition would push both brands into a brighter global spotlight.
“Australia is renowned as a global centre of excellence for mining, quarrying and construction technology,” Taylor said.
“This acquisition will provide global scale for iVolve and enable the ongoing development of iVolve’s products and solutions into the future.”
Both Taylor and Parascos will continue their current roles to ensure continuity in product development and customer relationships.
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