Vehicle Telematics

Trak Global Group gets investment from Three Hills Capital Partners

Trak Global Group, a telematics technology company has announced recently that Three Hills Capital Partners is to acquire a significant minority stake in the business. The deal comes less than a year after TGG acquired IMS, one of North America’s three leading telematics solution providers.

The combined Group business has long-standing partnerships with global insurers, mobility operators and motor manufacturers, gathering and interpreting data from connected devices to help organizations manage driver and vehicle risk.

THCP provides partnership capital and investment support to mid-market companies who want to invest in growth but avoid dilution of ownership and control.

Key points regarding the acquisition:

• New growth capital investment of over $50m USD will accelerate the development of new products and services via IMS’ DriveSync 6 platform, benefitting the Group’s clients across insurance, mobility, automotive OEMs and governments.

• Company confirms that its focus will be on supporting rapid growth in the North American territory; also considering further acquisition activity.

• IMS now the lead brand for the Group’s international business activities within the insurance market. The company provides complete end-to end services that insurers need in order to leverage the benefits of usage-based insurance (UBI) and extract value from telematics data across the entire value-chain, from customer acquisition and risk management through rewards, engagement and claims remediation.

Source: Press Release

Tags

Related Articles