You are in:
Trakm8 Strengthens Its Global Positioning Systems Software With Acquisition of PJ Soft
Trakm8 Ltd, today announces a £606,301 acquisition of the entire issued share capital of the Czech Republic registered entity, P J Soft s.r.o., from its two shareholders. PJ Soft is a Prague-based software research and development company specialising in the provision of cartographic mapping application software.
Trakm8 currently licenses geo-positioning software from PJ Soft which it uses for its own applications in the international vehicle tracking and vehicle security markets. The acquisition means that Trakm8 now owns the Intellectual Property for the software and can now deliver new products at reduced cost based on advanced cartographic and geo-positioning software.
Cary Knapton, CEO of Trakm8 comments: "The acquisition of PJ Soft provides us with a complete Telematics toolkit. Bringing the Intellectual Property in-house strengthens our global market position, enabling us to continue offering cost-effective and market-leading products in line with our strategic business aims. We are delighted to welcome PJ soft to the Trakm8 group and we will utilize their expertise to build a centre of excellence for software development in Prague, while our UK team will continue managing project work and the global penetration of product."
The combined software development expertise will lead to faster Research and Development (R&D) programmes, with products launched to market quicker. Trakm8 will actively seek to expand sales into geographic territories surrounding the Czech Republic and the acquisition will provide significant support to existing relationships with major partners in southern Germany.
