Parties
Company
Bestpass Inc.
Company
Drivewyze Ltd.
On August 7, 2024, Bestpass-Fleetworthy Solutions, a leader in toll management, safety, and compliance, acquired Drivewyze, a leading provider of connected truck services and weigh station bypass solutions in the U.S. and Canada. The terms of the acquisition were not disclosed. This strategic move combines the strengths of the largest toll management provider with the largest public-private weigh station network, offering a comprehensive suite of services to commercial fleets of all sizes across North America. The combined company aims to accelerate product innovation and address the needs of fleets, owner-operators, and government agencies in both the U.S. and Canada.
The acquisition follows a 2023 partnership between the two companies that streamlined toll management and weigh station bypass services for their customers. The merger is expected to provide enhanced solutions for drivers, fleets, and government agencies by leveraging advanced safety and compliance technologies. Drivewyze will maintain its brand and continue operations under the umbrella of Bestpass-Fleetworthy Solutions, ensuring continuity of service for its customers in both countries.
Key leaders involved include Tom Fogarty, CEO of Bestpass-Fleetworthy Solutions, and Brian Heath, CEO of Drivewyze, who will join the new entity as a Special Advisor. Legal advisors for this acquisition were not disclosed.
Deal Type
Merger & AcquisitionIndustry
TransportationTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date