Vector Capital, a private equity firm specialising in the technology sector, has completed its acquisition of Trafficmaster in a take-private transaction valued at approximately USD145m.
Trafficmaster is a provider of intelligent vehicle services which aim to enhance driving experience and improve business performance by saving companies time and money.
While Trafficmaster was previously listed on the London Stock Exchange, 70 per cent of the company’s revenue was generated by its significant operations in the US.
David Fishman, a partner at Vector Capital who will join Trafficmaster’s board of directors, says: "We look forward to partnering with an exceptional management team and employee base to capitalise 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."
"We are delighted to be working with Vector Capital," adds 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."