Businessman Andile Ngcaba’s fleet telematics firm, Ctrack has successfully completed the acquisition of Inseego’s international telematics business, for an undisclosed amount.
Ngcaba’s specialist ICT investment firm Convergence Partners entered into an agreement with Nasdaq-listed Inseego to acquire 100% of Ctrack’s operations in Africa and the Middle East in 2021.
Initially announced in September 2024, this acquisition enhances Ctrack’s presence in critical markets, including the UK, Belgium, France, Germany, the Netherlands, Australia and New Zealand.
Hein Jordt, CEO of Ctrack, comments: “This acquisition marks a defining milestone in Ctrack’s journey. It not only expands our presence in international markets but also strengthens our capabilities as a leader in predictive solutions.
"Together, we are unlocking new opportunities in data intelligence, empowering businesses to leverage advanced analytics for greater efficiency and success.”
Ngcaba, chairman of Convergence Partners, says: “We are proud to see Ctrack’s evolution into a global leader in automotive, big data and AI-driven solutions.
“The seamless integration of Inseego’s telematics business has not only elevated Ctrack’s global position but also unlocked substantial growth opportunities. As we advance towards intelligent transportation powered by next-generation technologies like IMT 2030 and 6G, Ctrack is well-positioned to drive innovation and deliver outstanding value to customers and stakeholders.
"This milestone comes at a pivotal moment when telematics, automotive technology, AI, 5G, 6G and low Earth orbit satellites converge to redefine fleet management.”
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