Shares for the firm – which provides its integrated tracking and telematics system to over 6,000 commercial fleets using flexible rental and purchase options as well as a number of leading UK providers of pay-as-you-drive motor insurance – are expected to start trading on 6th November this year. 

The IPO comes at a time of continued growth for the leading vehicle tracking supplier, which saw 59% growth in sales revenue in 2013. Quartix's development has continued into 2014 with a launch in the US and the appointment of well-respected chairman Avril Palmer-Baunack, and experienced non-executive directors Paul Boughton and Jim Warwick. 

‘Admission to AIM is an exciting milestone for Quartix and will provide us with an enhanced platform from which to build on the momentum we have achieved over the past few years,’ said Andy Walters, MD and co-founder of Quartix. ‘We plan to take advantage of the anticipated growth in both the commercial fleet and telematics-based insurance markets. In particular, we look forward to delivering on our strategy to extend our technology, low cost sales and subscription model to grow our presence in the UK, France and the US.’