Today we are delighted to announce that we have acquired leading UK Fleet Management technology business, VeriLocation, the deal will create a business servicing in excess of 500 customers over 50,000 connections in the UK and overseas, across all sectors of the fleet and telematics industry.
UK-based VeriLocation has established itself as a technology leader in the commercial vehicle telematics market, heavily focused on both product innovation and customer service. The acquisition enables customers of both businesses to benefit from new levels of customer service and enhanced system functionality.
Backed by UK B2B services and technology investor, Lyceum Capital, Isotrak’s acquisition of VeriLocation will create a comprehensive range of software solutions and professional services. Customers will be able to build a solution to fit their precise needs, for both combined in-house and out-sourced fleets, driving environmental performance and integrating market-leading, managed service vehicle camera systems.
“VeriLocation has delivered tremendous growth and value to its customers thanks to its technical excellence and emphasis on market-leading customer service,” commented Jim Sumner, Chairman of Isotrak. “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.”
“We were impressed by the Isotrak leadership team,” commented Andrew Overton, Chief Executive Officer of VeriLocation. “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.”