Connexas Group has acquired Nottinghamshire-based Seven Telematics in line with plans to further advance its connected vehicle and mobile worker strategy.
Northampton-based Connexas Group, which provides technology-enabled, fleet management and mobile worker solutions, said the deal would enable customers from across the group to benefit from new levels of product functionality and complementary service offerings.
Seven Telematics solutions include its Transcan Advance temperature data logger, which has carved out a leading position in the cold chain market and the business has a strong track record in both product innovation and customer service.
The business added that it would see its annual revenues increase to over £20m, with the business servicing in excess of 700 customers and fulfilling well over 100,000 connections in the UK and overseas.
Jim Sumner, chairman of Connexas Group, said: “Seven Telematics is the market leader in cold chain telematics achieving 20% CAGR in the past four years and has strong export sales at over 30% of total revenue.
“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, added: “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. This progress is reflected in our year-on-year revenue growth rate, which is now running at 14% organically. This is also complemented by our sales pipeline which has more than doubled in the past 18 months.”
Ian McAllister, commercial director of Seven Telematics, who has joined Connexas Group as interim COO, added: “I am very much looking forward to joining forces with Connexas Group and am not only excited with, but am very impressed by, the technology platform and innovative range of products Connexas has developed. There is a real energy and purpose in this organisation, and we are looking forward to working together to realise growth in the future.”