The telematics and fleet management provider Isotrak has acquired UK fleet management technology business VeriLocation.
The company says the deal will create a business servicing more than 500 customers with more than 50,000 connections across all sectors of the fleet and telematics industry.
VeriLocation is an established operator in the commercial vehicle telematics market. Isotrak says it hopes the acquisition will benefit customers of both businesses both better customer service and system functionality.
The acquisition was backed by UK B2B services and technology investor Lyceum Capital.
Jim Sumner, Chairman of Isotrak, said 'VeriLocation has delivered tremendous growth and value to its customers thanks to its technical excellence and emphasis on market-leading customer service.
'Together, the businesses are a perfect fit for each other and ' more importantly ' for our customers who are looking for the best of available technologies on a single platform'
Andrew Overton, chief executive officer of VeriLocation. Said: 'We were impressed by the Isotrak leadership team.
'Working closely with them in recent months has shown we share a common set of values, particularly our belief that superb customer focus and a highly ethical approach to business are key to success for ourselves and our customers'
Lyceum Partner Daniel Adler said: 'When we acquired Isotrak in 2013, we understood that vehicle tracking and fleet management software is business-critical for transport operators.
'VeriLocation is a software business with complementary functionality to Isotrak's services and we are committed to identifying, acquiring and integrating businesses that provide a strong strategic fit, across all our investments. We are certain that Isotrak will continue to build on its position as a market leader in the dynamic telematics space and remain at the forefront of new product innovation'
