Trakm8 on right road with Box Telematics
VEHICLE tracking technology firm Trakm8 is moving up a gear after the potentially transformational acquisition of BOX Telematics.
AIM-listed Trakm8, of Shaftesbury, Dorset, is paying £3.5million and settling a directors’ loan of £750,000 from its cash and a new £2.5million banking facility.
It is also raising £2.1million in a placing of new shares mainly for working capital. Revenues at West Midlands firm BOX were £8.4million last year, almost double Trakm8’s and its pre-tax profit was £850,000.
Trakm8 has expanded into areas such as fuel saving through its driver-behaviour package ecoN, which has been fitted in more than 2,500 AA patrol vans.
