Microlise, one of Europe’s largest telematics companies, has agreed to acquire a 20% stake in AIM listed Trakm8, a leading supplier of telematics, vehicle cameras and fleet management solutions, subject to approval at a General Meeting of Trakm8 shareholders on the 24th December, 2018.
As a result of the deal, Nadeem Raza, Chief Executive Officer of Microlise, will join Trakm8’s Board in a Non-Executive Director capacity. Microlise and Trakm8 will otherwise continue to operate independently of one another.
Nadeem Raza, Chief Executive Officer of Microlise commented:
“Microlise has ambitious growth plans both in our home market of the UK, but also internationally. We are delighted to be able to announce our investment in Trakm8, which will see the two organisations explore exciting opportunities to collaborate.
“Whilst we both provide telematics services, Microlise and Trakm8 operate in different markets and serve different customer-bases. We believe there are synergies between our two businesses; both of which are committed to providing best-in-class products and services, and innovating through product research and development.”
Microlise has grown rapidly in recent years to become one of Europe’s largest telematics organisations. The company has opened offices internationally, in France, the Middle East, India and Australia and has a strong network of OEM and channel partners, with relationships in place with truck manufacturers DAF Trucks and MAN Truck & Bus, and plant machinery manufacturer JCB, in the UK, Knorr-Bremse in Germany, Emirates Logistics in the United Arab Emirates and Tata Motors in India.
The company secured the coveted Queen’s Award for Enterprise in 2018.
Microlise telematics, journey management and proof of delivery products help its customers reduce costs and the environmental impact of their fleet operations. This is achieved by maximising vehicle utilisation, increasing operational efficiency and improving economy and safety; whilst helping to deliver the very best customer experience by providing real-time visibility of the fleet against schedule.
An award-winning privately owned business, Microlise invests significantly in research and development annually to ensure its solutions continue to be underpinned by market-leading technology. In 2018 Microlise won the prestigious Queen’s Award for Enterprise – International Trade.
Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its’ solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.
The Group’s product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 250,000 connections.
Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Direct Line Group and Young Marmalade.
Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.