Vector Capital Announces Successful Close to Acquisition of Trafficmaster
SAN FRANCISCO, July 29 /PRNewswire/ -- Vector Capital, a global private equity firm specializing in the technology sector, today announced it has completed its acquisition of Trafficmaster Limited (formerly Trafficmaster Plc) in a take-private transaction valued at approximately $145 million.
Trafficmaster is a leading provider of intelligent vehicle services which enhance driving experience and improve business performance by saving companies time and money. While Trafficmaster was previously listed on the London Stock Exchange, 70% of the Company's revenue was generated by its significant operations in the US.
Commenting on Vector's investment in Trafficmaster, David Fishman, a Partner at Vector Capital who will join Trafficmaster's Board of Directors, said: "We look forward to partnering with an exceptional management team and employee base to capitalize on the significant growth opportunities in this sector. Trafficmaster has demonstrated strong momentum, driven by a large and growing market opportunity, and offers a compelling value proposition for large and mid-size fleet operators."
"The US fleet management market has experienced double digit growth rates over the past five years and is expected to continue to rapidly expand," continued Andy Fishman, a Vice President at Vector Capital who will also join Trafficmaster's Board. "The combination of attractive sector trends and Trafficmaster's unique products and scale provides us with a solid platform to pursue additional acquisition opportunities in the vehicle services space."
"We are delighted to be working with Vector Capital," said Tony Eales, Chief Executive at Trafficmaster. "As a private company, Trafficmaster will be in a better position to take advantage of the many opportunities in its core markets and strengthen the Company's leadership in telematics and fleet management solutions. Vector has a distinguished record of success in acquiring and operating technology companies, and our partnership with Vector will enable us to reach new levels of scale, capabilities and customer service. This is an exciting day for Trafficmaster and we look forward to working with the team at Vector as we enter the next phase of growth."
About Trafficmaster
Trafficmaster's core division, Business Services, operates principally in the United States through Trafficmaster's award winning Teletrac brand. Teletrac offers fleet tracking and fleet management solutions to small and medium-sized businesses. With over 6,000 local fleets and over 100,000 commercial vehicles across the US, Trafficmaster is one of the largest vendors in the local market. Teletrac is a hosted, subscription-based software solution that provides fleet managers real time visibility to their trucks. The solution incorporates advanced functions such as two-way messaging, turn by turn navigation, geo-fencing, hours of service logs and other driver safety and monitoring features enabling higher driver productivity, lower overtime, reduction in fuel consumption, improved navigation and time efficiency, and reduced carbon footprint.
Trafficmaster's second division, Consumer Services, provides traffic, stolen vehicle tracking, navigation and other telematics services to the consumer market and operates predominantly in the UK. In addition, Trafficmaster Plc also invests in new development through its Emerging Products area, focusing principally on project-led activities.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in spinouts, buyouts and recapitalizations of established technology businesses. Vector identifies and pursues these complex investments in both the private and public markets. Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of these businesses and enhance their value for employees, customers and shareholders. Among Vector's notable investments are Aladdin Knowledge Systems, Certara, Corel Corporation, LANDesk, Precise Software, Printronix, Register.com, SafeNet, Savi Technology, WatchGuard Technologies, and WinZip. For more information, visit www.vectorcapital.com.
Enquiries |
|
Carol Roos (Brunswick) |
|
415 671 7676 |
|
SOURCE Vector Capital
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article