Building on its strong financial results, the deal will see Group annual revenues increase to over £20m, with the business now servicing in excess of 700 customers and achieving a milestone of 100,000 billable connections in the UK and overseas.
Seven Telematics’ innovative temperature recorder, Transcan Advance, has established itself as a technology leader in the cold chain market and the business has a strong track record in both product innovation and customer service. The acquisition will enable customers from across the Connexas Group to benefit from new levels of product functionality and complementary service offerings.
“Our 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. This move not only increases our technology and connection base, it also offers significant growth potential, builds on our European footprint and will, of course, add further to the financial strength and performance of the company.”
Andrew Overton, CEO of Connexas Group, added: “This acquisition furthers our ‘one-stop’ technology strategy, which is a clear differentiator for our business in a high-growth market. The Transcan Advance technology will become fully integrated into our platform, opening up this capability to our wider customer base.”
Related tags: cold chain