Isotrak, a global provider of telematics and fleet management systems for commercial vehicle operators, said it has acquired leading U.K. fleet management technology business VeriLocation.
The deal will create a business servicing more than 500 customers over 50,000 connections in the United Kingdom and overseas, across all sectors of the fleet and telematics industry, according to Isotrak.
Northampton-based VeriLocation has established itself as a technology leader in the commercial vehicle telematics market, heavily focused on both product innovation and customer service, Isotrak said.
Backed by U.K. B2B services and technology investor Lyceum Capital, Isotrak’s acquisition of VeriLocation will create a comprehensive range of software solutions and professional services, according to Isotrak. Customers will be able to build a solution to fit their precise needs, for both combined in-house and outsourced fleets.
“When we acquired Isotrak in 2013, we understood that vehicle tracking and fleet management software is business-critical for transport operators,” Lyceum partner Daniel Adler said. “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.”