Telstra has bought Australian owned GPS and technology company MTData in a move towards accelerating its 'Internet of Things' business globally.
The acquisition, which is believed to have cost Telstra around $50 million, will provide the telco with advanced technology and expertise in connected vehicle solutions.
It is understood the technology from MTData helps transport companies manage their logistics by tracking vehicles and producing data to give a better understanding about driver fatigue.
Under the new deal, which marks the telco's first major buy into the IoT space, MTData's product will run on Telstra's mobile network to provide real-time data for businesses.
Executive director Telstra enterprise, Michelle Bendschneider said the purchase will support the company's focus on being a leading provider of innovative technology solutions for customers in Australia and globally.
"MTData is a recognised leader in IoT and we look forward to taking this technology to our customers locally and internationally," Ms Bendschneider said on Wednesday.
"This strategic acquisition will enable us to capitalise on the business ready IoT capability on our network."
MTData chief executive Matthew Bellizia said he is pleased the business will remain in Australian hands.
Telstra shares were 1.5 cents, or 0.42 per cent, higher to $3.555 at 1331 AEDT.
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