Business guru in launch of telematics venture

The technology entrepreneur Martin Port has launched a new business in Leeds which he hopes will create 100 jobs and revenues of £10m within two years.

The 49-year-old businessman has signed a deal with an Israeli company to establish a European headquarters to spearhead sales of its mobile data terminals, which are designed to help companies save money.

Mr Port is the founder of Masternaut UK, a Leeds-based company he built into a leading provider of web-based vehicle tracking services.

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He has now invested a seven-figure sum in the new venture with Micronet, a cash-rich company quoted on the Tel Aviv Stock Exchange and a supplier to Masternaut.

Micronet sells its hard-wearing devices to telematics firms, which in turn market them as money-saving products to a wide range of sectors including logistics, field services, utilities, waste, construction, local authority and emergency services.

Mr Port said he owns 100 per cent of Micronet Europe and will take on the firm’s existing 30-40 customers. He added that he will own 50 per cent of a joint venture offering software services, which he also hopes to grow into a multi-million pound business.

Mr Port told the Yorkshire Post that he planned to expand the businesses in a “very short period of time”.

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He said: “I know the market really well. I have 13 years’ experience in telematics and know how to achieve sales growth and look after customers.

“Like all businesses, I’m in it for the long-term to build a team and build value like I did with Masternaut.

“There’s never been a better time to launch this technology.”

Mr Port said the start-up “again shows that Leeds can start a new business from scratch and we create investment and generate business all over Europe, direct from Leeds”.

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Rafi Katz, chief executive of Micronet, said: “I am delighted to welcome Martin Port as our European distributor.

“He has a proven entrepreneurial style that will ensure our future expansion.

“There are more than 30 million commercial vehicles in Europe and we expect to increase our market penetration with a culture that focuses on strong sales, marketing and customer service in this territory.

“He will develop Micronet Europe with the vision of becoming the market leader in this fast-evolving market.

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“Martin is very well placed as he is highly respected within the industry for his ability to recognise next generation technology.”

Micronet develops, manufactures and markets mobile data terminals for mobile workforces.

The products and services are designed to improve productivity, increase efficiency and enhance customer service.

Mr Port said: “I have known Micronet and Rafi for many years.

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“Micronet recently launched in the United States a new range of devices that have attracted enormous success with world-class mobile resource management specialists.

“Micronet has nearly 30 years’ experience in the design and manufacture of automotive grade mobile data terminals utilised by top industry leaders.

“We plan to build on that success in Europe. I have many years’ experience working with operators in all sectors; I am really excited and proud to be able to offer a unique range of technically advanced products that are different to anything that is currently sold in Europe.”

The devices allow goods drivers and service engineers and their vehicles to communicate with their offices.

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Mr Port explained: “It’s all about giving information to the driver and getting information from the driver, helping them become more efficient and integrated.”

He said there are more than 600,000 UK vehicles fitted with tracking systems, all of which represent opportunities for Micronet, while many more opportunities exist in Europe.

Mr Port said he expects to do more business in Israel, which he described as a very stable economy and “not overheated like a number of others”.

He said Micronet Europe will be based initially in Leeds Innovation Centre, at Leeds University, where he founded Micronaut UK in 2002. He established that company with hardware bought from French firm Masternaut International, and developed software in the UK which fuelled its rapid growth.

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Mr Port made a number of acquisitions before selling the business in 2009 to Europe’s second largest airport group, Aeroports De Paris, in a £20m deal.

He stayed on to run the company and exited this year following the merger between Masternaut and UK competitor Cybit to create one of the world’s largest vehicle-tracking firms.

The deal was backed by US private equity firm Francisco Partner and was believed to be worth up to £100m.

At the time, Mr Port spoke about the enormous potential of the telematics industry.

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He said: “It’s all coming of age. People have spoken about it for a long time. It’s now really happening. We are at a price point that makes it a no-brainer. Fuel is at a ridiculously high price.”

The climb to the top

Martin Port’s first job was as a 14-year-old Saturday boy at the Cecil Gee menswear store in Leeds

A year later, he started a small business printing business cards.

He moved to New York at 24 and helped a friend running a German bakery business.

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He returned to the UK three years later and with the help of an enterprise allowance set up a successful company called Kroustie, a speciality bread retail and wholesale business.

Customers included former Asda chief executives Archie Norman and Andy Bond and the chef Marco Pierre White.

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