Crewe-based Radius Payment Solutions, which runs telematics and fuel card brands Kinesis and UK Fuels, has acquired Sure-Track for an undisclosed amount.
Formed in 2004, Sure-Track offers a range of asset recovery and telematics products as well as vehicle cameras. Through the acquisition, Radius will boost its technical capability with a company that has pioneered new innovations especially in the tracking and recovery of stolen assets which is backed up with a 24/7 monitoring station.
This latest acquisition by Radius brings the firm’s total number of tracked vehicles and assets to over 150,000, making the Crewe headquartered company one of the largest telematics companies in Europe, having only started selling telematics in 2015.
“The acquisition of Sure-Track brings another dimension to our growing telematics business by acquiring the technology, expertise and services for the tracking and recovery of stolen vehicles and plant.” said Bill Holmes, chief executive of Radius Payment Solutions.
“Increasingly insurers are turning to telematics to reduce risk, not only by protecting assets but also through monitoring driving to improve safety. We can now offer a complete range of solutions and through integration with our fuel cards, purchasing and insurance platform, we can offer everything businesses need to manage their mobile assets.”
“Joining the Radius group represents a major landmark for Sure-Track and will open up the market both in the UK and overseas to our technological innovations that we’ve developed over the past 15 years,” added Sure-Track founder and CEO Will Hirons.
