MILAN, March 27 (Reuters) – Octo Telematics, an Italy-based company that makes vehicle recording devices for the auto insurance market, is looking for a buyer and will send information to potential bidders in the second part of April, a person close to the matter said.
“The bigger private equity funds are interested because it’s a company that is doing well in a high-growth sector,” said the source who requested anonymity.
Octo Telematics, present in 26 countries, makes “clear boxes” which measure and report back on the mileage and how well a car is driven. Installing a clear box can help reduce auto insurance costs.
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