Regulatory news

Regulatory news

Strategic Investment in Citi Logik Limited

Tracsis plc

("Tracsis" or the "Group")

Strategic Investment in Citi Logik Limited

Tracsis plc, a leading provider of software and technology led products and services for the transportation industry, is pleased to announce it has made a strategic investment to acquire 29.4% of Citi Logik Limited ("Citi Logik").

Established in 2011, Citi Logik has developed unique technology and expertise in mobile analytics to improve the understanding of interactions between people, transport and the built environment using large anonymised mobile phone datasets. The business has a global framework agreement with a major FTSE 100 telecommunications business to source mobile data and works with a range of public and private customers on projects ranging from transport analysis to consumer behaviour and travel patterns.

The Directors believe Citi Logik has a highly novel technology platform that will be complementary to the existing Tracsis Traffic & Data Services division. Mobile analytics offers strong cross sell and upsell opportunities to the Tracsis Group and complements existing survey methods which will expand the market into larger projects of greater size and complexity.

Under the terms agreed, Tracsis will invest up to £1.0m via a combination of equity and debt funding in return for 29.4% of the issued share capital in Citi Logik. Investment of £0.5m will be made immediately with a further £0.5m invested within the next 12 months subject to delivery of agreed business plan milestones. A Tracsis executive will join the Board of Directors of Citi Logik to help grow the business and promote mobile analytics to the Tracsis customer base.

John McArthur, Chief Executive Officer of Tracsis plc, commented:

"We are delighted to have completed this investment into Citi Logik and look forward to working with their team to help promote a unique offering to our client base. The potential of mobile analytics is significant and not only complements our existing traffic and data services division but creates an entirely new market outside of what can be achieved by discrete survey methods."

Stephen Leece, Managing Director of Citi Logik Limited, commented:

"We are very pleased to join forces with Tracsis having worked with them for some time now as a valued customer. The combination of Tracsis' existing technology and extensive customer list, combined with Citi Logik's unique mobile analytics offering makes for a great value proposition. With this investment in place we now look forward to accelerating delivery of our business plan."

For more information please contact:

John McArthur/Max Cawthra, Tracsis plc
Tel: 0845 125 9162

Dominic Emery/Matt Lewis, Investec Bank plc
Tel: 020 7597 4000

Rebecca Sanders Hewett, Redleaf PR
Tel: 0207 382 4730
Tracsis@redleafpr.com