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Description of business:
Trakm8 Holdings plc is a Shaftesbury, Dorset based provider of fleet management solutions. Trakm8 has its main operations in the UK and its subsidiaries (the "Group") distribute their hardware and software internationally through a network of distributors. In addition the Group provides vehicle monitoring and tracking services direct to the B2B market. Trakm8's products allow vehicles and drivers to be monitored, allowing organisations to manage deliveries and services, or track stolen vehicles and plant equipment. Over the past 10 years Trakm8 has sold in excess of 175,000 units worldwide. Trakm8 has been extending its range of fleet management solutions beyond the Swift tracking product into fuel saving, such as its driver behaviour package "ecoN", and also logistics routing, scheduling and tachograph data integration. These solutions generate recurring revenue. Trakm8 has conditionally agreed to purchase the entire issued share capital of BOX Telematics Limited ("BOX") for an initial cash consideration of 3.5 million (the "Acquisition"). Following Admission, the Company will also procure the repayment by BOX of a director's loan of 750,000. The Acquisition constitutes a reverse takeover under AIM Rule 14 and accordingly, Trakm8 will be seeking readmission of its shares to trading on the AIM Market of the London Stock Exchange. BOX, a vehicle telematics business, was founded in 1989 and began to focus on vehicle telematics in 2000. It has since become one of the leading providers of fleet management systems in the UK. BOX provides in-house telematics design, manufacturing, and services and has delivered OEM telematic solutions for several blue-chip clients. In addition BOX provides non-telematic third party contract manufacturing services. BOX's products include BOXoptions, a customisable range of end-to-end telematic and vehicle tracking solutions; BOXtracker INSIGHT and BOXtrackerEco, vehicle tracking solutions; BOXsolo, a water resistant tracking device; iSpot, a smartphone based GPS tracker; and SpotOn, a data collection system.

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Trakm8 Holdings PLC

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