Telstra has put its in-vehicle fleet management and monitoring software and hardware provider, MTData, up for sale and hired PwC Corporate Finance to find a buyer. The $52 billion telco is seeking to divest the division, which is forecast to deliver $11.2 million in earnings next financial year, in its entirety.
An information memorandum, in front of potential buyers and obtained by Street Talk, pitched MTData as a high-quality business with stable earnings and growing recurring revenue streams, underpinned by strong sector tailwinds– regulatory expansion, fleet expansion and technological advancements – and a pipeline of opportunities.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
