Terex agreed to invest $1.2 million in equity into FleetEdge, a Raleigh, N.C.-based B2B fleet management system for construction equipment users. Officials at Westport, Conn.-based Terex said the deal would allow the company to develop a presence in fleet management services.
“We recently announced the launch of EarthKing, an independent and unbiased Internet marketplace for the construction and mining equipment industry,” said Ron DeFeo, Terex chairman and CEO. “FleetEdge provides EarthKing with a fleet management system that is custom configured for our customers' equipment fleets, designed to be easily implemented, maintained and managed from anywhere in the world with an Internet connection.”
Terex manufactures a wide range of construction, infrastructure and mining-related equipment under such brand names as Terex Lifting, Terex Light and Terex RO.