Enigma Telematics merges with Italy's Viasat Group
The newly-merged company will look to bring its combined expertise to the growing insurance telematics market in the UK, utilising Viasat’s experience and the strong, well-established Enigma Telematics brand.
Building upon Enigma’s strength in the fleet management and plant & construction sectors, it will also explore opportunities for international expansion, with the UK as its base for such operations.
Enigma said that the strong financial positions of both firms enables greater investment in software and hardware development in the future, leading to improved product offerings.
Ian Keam-George, chief executive of Enigma Telematics, said: ‘We are absolutely delighted to have joined forces with Viasat. We share the belief that customers’ needs should be at the core of our operations, so the fact that this merger will result in real synergy and bring benefits to customers is really exciting.
The firm will continue to trade as Enigma Telematics in the UK and says in the short term, there will be no change to the level and type of service provided to existing customers. In the medium-term, customers will see some interesting improvements to products and services provided.
Giovanni Panigada of Nash Advisory, who was involved with the merger, said: ‘The strategy of mergers & acquisitions pursued by Viasat Group mirrors the current context of strong dynamism in the industry as a whole.
‘This is illustrated by an acquisition in Spain by TomTom last August, as well as the acquisition of Wabco by Transics of Belgium, of the Brazilian company Sascar by Michelin, of Octotelematics by the Russian group Renova and the joint acquisition by FleetCor Technologies and Summit Partners of UK-based Masternaut, plus the recent takeover bid by Vodafone for Cobra. In this area, Viasat-Enigma is confirming its presence amongst the big world players.’