GPSTrackIt, a portfolio company of private investment firm Inverness Graham, has acquired Tracking Solutions Corporation & its subsidiaries (collectively, TSO Mobile).
GPSTrackIt is a leading provider of SaaS based asset-tracking and fleet management solutions across North America. The acquisition of TSO Mobile expands the Company’s reach into Latin and South America, provides an attractive fleet tracking capability in the municipal bus market and offers a high growth solution in Electronic Logging Devices.
“TSO Mobile’s diverse customer base across multiple end-markets is a great fit for GPSTrackIt,” says Michael Morrissey, Managing Principal of Inverness Graham. “Their brand, go-to-market strategy and non-US growth all fit well with our acquisitive growth strategy. We are excited to complete this synergistic add-on acquisition within seven months after our initial investment in GPSTrackIt.”
“TSO Mobile is a leader in SaaS based asset-tracking and fleet management and we’re excited to partner with the TSO team,” says Keith Schneider, CEO of GPSTrackIt. “We will continue to invest as we scale and build out our global platform both organically and through acquisition in fleet tracking and mobile resource management.”
Terms of the acquisition have not been disclosed.
