Seven Telematics’ temperature data logger, Transcan Advance, has a strong foothold in the cold chain sector and 30% of sales are to export markets. The acquisition, says Connexas, will enable its customers to benefit from new levels of product functionality and complementary service offerings.
The deal will see annual revenues for Connexas – formerly Isotrak Group – climb to more than £20 million.
Jim Sumner, chairman of Connexas Group, says: “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 and builds on our European footprint.”
Andrew Overton, CEO of Connexas Group, adds: “This acquisition brings us a step nearer to creating a one-stop, market-leading technology platform, which is a clear differentiator for our business in a high-growth market.”
Ian McAllister, commercial director of Seven Telematics, has joined Connexas as interim COO.