Acquisition of Ontrac Ltd and Ontrac Technology Ltd
Tracsis plc, a leading provider of software and technology led products and services for the traffic & transportation industry, is pleased to announce that it has acquired the entire issued share capital of Ontrac Limited and Ontrac Technology Limited (together being "Ontrac").
Based in Gateshead and London, Ontrac is an award winning software development and IT solutions company that work with a range of clients in the transport, construction, and local government sectors. Ontrac works extensively within UK rail where their products have helped digitise process intensive workflows and aided with collaborative working through access to shared information. The Directors believe that Ontrac is highly complementary to Tracsis' existing software development and consulting division, and offers strong cross sell and upsell opportunities across the Group.
John McArthur, Chief Executive Officer of Tracsis plc, commented:
"We are delighted to have completed this acquisition which continues our trend of acquiring well run, profitable, niche businesses that are complementary to the broader goals of Tracsis and our customer base. Ontrac is a well-established company with an excellent track record of technology delivery within the rail sector. We believe there is a great fit with Tracsis in terms of people, culture, products and services and we welcome the Ontrac team to the Group."
Martyn Cuthbert, Managing Director of Ontrac, commented:
"We are pleased to come together with Tracsis who are a natural fit for Ontrac. The combined Group will have a significant development capability that will benefit our customer base and we look forward to working together on joint opportunities for the enlarged Group."