Ctrack, the Pretoria-based telematics solutions company, has completed its acquisition of Inseego’s international telematics business for $52m (£41.1m / €49.4m) in cash.
The deal, first announced in September 2024, will expand Ctrack’s global presence in critical markets including the UK, Belgium, France, Germany, the Netherlands, Australia, and New Zealand.
The acquisition is backed by Convergence Partners, a leading private equity investment manager that acquired Ctrack from Inseego in 2021.
The reunified telematics business under Ctrack will now operate on a global technology platform, enhancing service delivery, accelerating innovation and providing customers with a seamless, unified experience across multiple continents.
The acquisition accelerates Ctrack’s transformation into predictive, data-driven solutions, enabling the company to leverage big data and artificial intelligence (AI) to deliver actionable insights, optimise operations and reduce risks for its customers.
Inseego’s telematics business will be combined with Ctrack’s Crystal platform, a modular, AI-enhanced telematics solution, enhancing Ctrack’s ability to provide data analytics, fleet asset monitoring and predictive maintenance solutions.
The integration will deliver real-time fleet optimisation, predictive maintenance and advanced analytics across industries such as logistics, transport, agriculture, mining and construction.
Hein Jordt, CEO of Ctrack, said: “This acquisition marks a defining milestone in Ctrack’s journey. It not only expands our presence in international markets but also strengthens our capabilities as a leader in predictive solutions. Together, we are unlocking new opportunities in data intelligence, empowering businesses to leverage advanced analytics for greater efficiency and success.”
Andile Ngcaba, chairman of Convergence Partners, remarked: “The seamless integration of Inseego’s telematics business has not only elevated Ctrack’s global position but also unlocked substantial growth opportunities.
“As we advance towards intelligent transportation powered by next-generation technologies like IMT 2030 and 6G, Ctrack is well-positioned to drive innovation and deliver outstanding value to customers and stakeholders. This milestone comes at a pivotal moment when telematics, automotive technology, AI, 5G, 6G, and low Earth orbit satellites converge to redefine fleet management.”
