Cybit, Europe's leading online Telematics Service Provider (TSP), has announced the acquisition of Truck24, a leading German-based Central European telematics vendor, specialising in the HGV and logistics sectors across Germany, Switzerland and Austria. The acquisition strengthens Cybit's position as Europe's leading telematics vendor, adding a further 200 customers and 3,300 installed units to its existing base, creating a customer community of over 1,700 and approaching 70,000 mobile assets tracked by Cybit Group hardware and software solutions.
The Truck24 product range is touch-screen based for ease of use, and can be fully integrated into end-to-end logistics operations, including planning and scheduling, to reduces costs and increase transparency across the supply chain. Truck24's five years of extensive experience in the telematics industry will help accelerate Cybit’s ability to deliver new initiatives, such as CanBus engine management integration and digital tachograph. CanBus-generated vehicle performance data helps unlock a range of new cost savings and efficiency enhancements within a vehicle fleet.
"This is an important acquisition for Cybit, that extends our presence in Germany, Austria and Switzerland and provides a platform for further European expansion," commented Cybit's Chief Executive Officer, Richard Horsman. "Truck24 is an established business with strategic partnerships in Germany with organisations such as ADAC and Schmitz CargoBull.that will fit well with our existing operations. The German market is very attractive as it has the largest vehicle population in Europe with over 50 million vehicles. This acquisition will not only accelerate our growth in a key strategic market, but will also bring new expertise from within the German, Swiss and Austrian industrial sectors that will help drive development in key verticals, such as HGV and logistics."
All Truck24 staff will transfer on acquisition, and its CEO will become part of the Cybit international management team. German, Austrian and Swiss customers can now benefit from Cybit’s experience and expertise gained in the UK market, which has already gone through many of the challenges currently facing European businesses. Cybit's German installed customer base will be integrated within the Truck24 infrastructure, and serviced by the newly enlarged business.
"We are committed to growing the scale of Cybit through both acquisitions and organic growth. The European market remains extremely fragmented and we are focused on creating a group with scale and a broad base of operations. This is now our fifth sizeable acquisition, and each one has brought new, essential functionality to the group, enabling us to create new, highly relevant offerings for a wider range of customers in new industries," added Richard Horsman.
Cybit is a global force in Telematics, operating within three core sectors: Internet-based vehicle Telematics solutions; Economic Exclusion Zone (EEZ) Management; and Private Mobile Radio (PMR) based asset tracking and precise positioning solutions.
In the vehicle Telematics sector, Cybit is one of Europe's leading Telematics Service Providers (TSPs). More than 1,700 business to business clients use the company's fleet and asset management solutions to manage in excess of 45,000 assets primarily in the public sector, service industries and logistics and distribution markets. Solutions include in-vehicle technologies, work flow management, CanBus integration and internet-based monitoring and reporting software. The company also provides consulting services to advise on operational and legal issues such as duty of care and working hours.
Cybit is also a global leader in the field of EEZ fisheries management, tracking many thousands of fishing vessels on a daily basis. The company provides vessel monitoring and catch management solutions for many of the world’s major fishing nations. As well as EC governments including the UK, Ireland and Greece, Cybit helps to manage valuable fishing stocks for emerging nations such as Ghana, Namibia and Mozambique
Cybit's PMR business provides asset-tracking and precise positioning solutions for both maritime and land-based applications including exploration and mining. Its precise positioning solutions are in constant use in the location and exploitation of oil, gas and mineral reserves around the globe.
Additional information is available at www.cybitholdings.com, www.cybit.co.uk, www.truck24.com, www.amatics.com, www.cybitpositioningsolutions.co.uk and www.bluefinger.com
IBA - PR for Cybit
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