Hyster-Yale Group has acquired Speedshield Technology’s telematics installation and distribution businesses in the United States and United Kingdom. The acquisition provides Hyster-Yale with exclusive distribution rights of these businesses’ products in all areas except Australia. Following the purchase, the acquired businesses will be rebranded as HYG Telematics Solutions.

Speedshield Technology, located in Melbourne, Australia, is a provider of advanced and comprehensive telematics technology for material handling equipment as well as other fleet vehicle applications. Speedshield is the sold authorized provider of telematics products to Hyster-Yale customers  under the Yale Vision and Hyster Tracker telematics offering. Following the purchase Hyster-Yale plans to further develop its capabilities and enhance its efforts to service the fast-growing market for telematics solutions and fleet data analytics for material handling fleets. The application is currently offered in all new Hyster and Yale lift trucks and is able to be retrofitted into existing Hyster and Yale lift trucks, as well as lift trucks and allied equipment from other manufacturers.

Hyster-Yale has been evaluating and investing in a range of technologies in recent years to enhance the customer’s lift truck ownership experience. The company said the purchase of this business is a strategic acquisition to provide a solid platform to expand its offering of Hyster and Yale fleet management solutions.