Investcorp to make €500 million on Fleetmatics investment

Private equity firm Investcorp looks set to make close to $500 million off its original investment in Irish software company Fleetmatics, as it announced last week that it was offloading $270 million worth of shares in the company.

Fleetmatics, which offers software for commercial vehicle fleets and has 36 employees in Dublin, was floated on the New York Stock Exchange in October 2012 and raised $100 million in fresh capital.

In July of ...