The acquisition enhances Ctrack's presence in critical markets, including the UK, Belgium, France, Germany, the Netherlands, Australia, and New Zealand.
Ctrack, a South African telematics company under the leadership of Andile Ngcaba, has acquired the telematics business of Inseego, a US-based company, for $14.4 million. This acquisition includes Inseego's Ctrack-branded telematics operations in the US, Brazil, and Mexico, along with its intellectual property, software, and hardware. The deal aims to expand Ctrack's global footprint, particularly in the Americas, and enhance its service offerings in fleet management, safety, and security solutions. The transaction is part of Inseego's strategy to focus on its core 5G and IoT business, while Ctrack sees this as an opportunity to leverage Inseego's established market presence and technology to grow its international operations.
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