Stolen Vehicle Recovery, SVR, and fleet telematics expert, TRACKER, has been acquired by Lysanda from the Direct Line Group.
Lysanda is a telematics technology provider for fleet, insurance and OEM markets.
The acquisition, which brings together these two businesses, will enable TRACKER to grow its SVR services whilst expanding its fleet and insurance technology offering.
TRACKER has installed over 1 million of its SVR and fleet telematics units during its 20 years in business.
Lysanda is an automotive specialist in Duty of Care, driver behaviour and fuel management solutions based on a blend of GPS and data from the vehicle’s OBD port.
This acquisition provides a platform for TRACKER’s own plans to expand its services in Europe.
Lysanda targets global accounts, with most of its revenue coming from outside the UK.
TRACKER managing director Stephen Doran comments: “In 2013 we outperformed our growth targets in all of our markets, despite the fairly intense process of managing the sale of the business so 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.”