Hyster-Yale acquires telematics company

Forklift truck manufacturer Hyster-Yale has acquired Speedshield Technology’s telematics installation and distribution businesses in the US and UK.

The company said the deal provided it with exclusive distribution rights of these businesses’ products in all areas outside of Australia. Following this acquisition, it said the acquired businesses would be rebranded as HYG Telematic Solutions.

Speedshield Technology, located in Melbourne, Australia, provides telematics technology for material handling equipment, as well as other fleet vehicle applications. It is the authorised provider of telematics products to Hyster-Yale customers, under the Yale Vision and Hyster Tracker telematics product offering.

Following the acquisition, Hyster-Yale said it intended to further develop its capabilities in servicing the fast-growing market for telematic solutions and fleet data analytics for material handling fleets.

It said the telematics application was offered in all new Hyster and Yale lift trucks, and could be retrofitted into existing Hyster and Yale lift trucks, as well as lift trucks and allied equipment from other manufacturers.