TAKEOVER: Lynsanda acquire Tracker
Stolen vehicle recovery (SVR) and fleet telematics company Tracker have been acquired by Lysanda from the Direct Line Group.
Telematics technology providers Lysanda aim to help Tracker develop their SVR services, while expanding their fleet and insurance technology offering.
The acquisition will also help provide a platform for Tracker to expand in Europe; most of Lysanda’s revenue comes from outside the UK.
By the end of the year, both companies intend to establish Tantalum Corporation Ltd, developing joint plans and looking at the combined target operating model, supported by Disruptive Capital Finance LLP.
Stephen Doran, Managing Director for Tracker, said: “We are understandably looking forward to focusing on the opportunities presented by combining the technologies and business operations of both companies which can only serve to accelerate our development.
“The acquisition of Tracker by Lysanda very importantly allows us to become an independent service to the insurance market.
“It also provides the investment capital we need to take our business forward and achieve new levels of success, bringing our customers a growing range of services to meet their ever-changing needs.”
Cedriane de Boucaud, CEO of Lysanda, added: “Tracker has tremendous depth and experience in managing a very large, real-time customer base and has a highly complementary product range that Lysanda can leverage, combining VHF and GPS-based technologies.
“Our customers want both in-production and after-market solutions and Tracker is very experienced in delivering to both the business and consumer market places.”