Trakm8 acquired DCS Systems, designer and distributor of the RoadHawk, Dogcam and Lawmate camera systems, for a cash consideration of £3.2m.
The acquisition is in line with Trakm8’s strategy of augmenting its organic growth with selective acquisitions that expand its telematics offering to both insurance and fleet customers. Cameras are being increasingly used in a wide range of applications, including a significant demand for forward facing vehicle cameras to record driving incidents and to mitigate the risk from crash for cash accidents. Trakm8 has an existing relationship with DCS, supplying some Trakm8 customers with its RoadHawk cameras.
Jeff Chang, Corporate Associate Director and member of OC’s automotive team who led on the deal, said “It’s great to have worked again with the Trakm8 team in a really exciting area of the telematics market that’s attracting significant attention.”
John Watkins, CEO of Trakm8 said “We find Osborne Clarke an excellent firm to work with and they have provided good service to Trakm8 over the recent years.”
The deal is the latest in a run of several telematics related transactions on which Osborne Clarke’s team has advised in recent months.