Radius Payment Solutions acquires US telematics firm
Crewe-based telematics firm Radius Payment Solutions has acquired US telematics supplier CyntrX.
Based in De Pere, Wisconsin, CyntrX enables fleet managers in North America to enhance their fleet management capabilities with its telematics platform.
The acquisition of the US firm follows recent deals by Radius to further extend its global telematics portfolio with the purchase of two UK based fleet tracking and vehicle camera solution providers, Sure-Track and Plant-I, to add to existing brands UK Telematics and Kinesis.
The latest acquisition brings the total number of vehicles and assets tracked by Radius to 175,000, which it claims makes it one of the fastest growing telematics companies in the world since it started selling in 2015.
Bill Holmes, Chief Executive of Radius, said: “The acquisition of CyntrX brings to life our ambitions in North America, with a like-minded company which has a real focus on developing well supported, user-friendly products for customers.
“Through this acquisition, we will be able to leverage our combined knowledge of the telematics sector which presents a great opportunity for us to continue to grow quickly."
Greg Taisto, President and CEO of CyntrX, added: “Bill and the Radius team bring incredible resources and global influence on our North American footprint.
“We are excited to combine our domain expertise with Radius and architect telematics solutions that will scale across platforms, industries and continents.”
The Radius group employs over 1,400 people across 26 worldwide offices and recently opened a 66,000ft campus headquarters in Crewe.
Lisa Taisto, Joint Owner and COO of CyntrX said the team was excited ro be part of a global company.
“After 15 successful years joining such a distinguished organisation as Radius is a fantastic move for all of us and we are extremely confident that we can achieve some monumental things alongside our new colleagues,” she said.