Targa Telematics’ subsidiary already held a 60% stake as a result of a transaction finalized in 2018.
Viasat Group, a subsidiary of Targa Telematics, one of the leading global players in the field of technologies dedicated to the Internet of Things (IoT) and to the development of digital solutions and platforms for connected mobility, announces the completion of the acquisition of TRACKiT, with the purchase of the remaining 40% of its share capital.
Viasat Group already held a 60% stake in TRACKiT through a transaction finalized in 2018.
TRACKiT is a leading Fleet Management company in Portugal, which offers solutions ranging from fleet monitoring to security via embedded computing. The company will retain its own name and brand in the Portuguese market, while playing a key role in international markets in ad hoc synergies with the entire Targa Telematics network.
“We are continuing our work to present an offer to the market in the field of connected mobility that is increasingly complete and innovative”, commented Nicola De Mattia, CEO of Targa Telematics. “The completion of the acquisition of TRACKiT is one more component of our ongoing investments in cutting-edge technologies that allow us, together with our clients, to create digital transformation projects increasingly targeted towards a joint design of the mobility of the future”.
ABOUT TARGA TELEMATICS
Targa Telematics is one of the main global players in the IoT field and in developing solutions and digital platforms for connected mobility. For over 20 years, the company has been bringing to the market a range of telematics technology solutions, smart mobility and IoT platforms for short and long-term rental companies, financial companies and large fleets, ranging from insurance telematics to asset and fleet management, from remote diagnostics and telemetry of vehicles, professional and construction vehicles, to the management of airport vehicles. Following the acquisition of Viasat Group – finalized in 2023 – Targa Telematics has strengthened its footprint in European markets – thanks to a strong presence in countries such as Italy, the UK, France, Spain, Portugal, Belgium, Poland and Romania – as well as Chile. The company is able to work on projects at international level with dedicated local teams. Targa Telematics participates to the United Nations Global Compact and adheres to its principles-based approach to responsible business.
For more information: www.targatelematics.com
TRACKiT is present in Portugal in the fleet management systems market, with services tailored to customer needs (tracking, temperature control, performance, security and on-board IT, etc.). Its ability to offer customized software solutions and a strong focus on customer needs make it a preferred partner for monitoring, safety and efficiency in the world of transportation. With the acquisition in February 2023 of Viasat Group, which held a 60% stake in TRACKiT, the company is now under the full control of Targa Telematics.
For further information, visit www.trackit.pt
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