Trakm8 to acquire Route Monkey
Trakm8 has conditionally agreed to acquire fleet routing specialist Route Monkey for a consideration of up to £9.1 million, the company has announced today.
On completion, Trakm8 will be able to utilise Route Monkey’s software and electric vehicle specialism to enhance its telematics, camera and logistics solutions, as well as accessing the company’s customer base and sales force.
The acquisition will be funded through a drawdown of new debt facilities, as well as through issuing new shares and placing existing ones in the company. An initial £5.4m and a company loan of £1.7m will be payable, and the £9.1m includes a £2m deferred cash consideration.
Alex Grant
Trained on Cardiff University’s renowned Postgraduate Diploma in Motor Magazine Journalism, Alex is an award-winning motoring journalist with ten years’ experience across B2B and consumer titles. A life-long car enthusiast with a fascination for new technology and future drivetrains, he joined Fleet World in April 2011, contributing across the magazine and website portfolio and editing the EV Fleet World Website.
