Radius Payment Solutions expands focus to large fleets under Key Telematics partnership
Radius Payment Solutions has signed a strategic technology partnership with global vehicle tracking firm Key Telematics as it looks to expand further globally.
The agreement will provide Radius with access to a claimed market-leading technology platform that will enable it to reach the larger fleet sector, including through white-label solutions; the company’s existing Kinesis vehicle tracking solution appeals mostly to operators of smaller fleets.
The deal will also enable it to expand geographically. Key has a particularly strong presence in Africa, giving Radius access to an important developing market. Radius will also develop the existing Key technology centre in Cape Town, South Africa, as a technical innovation centre, further boosting the company’s development capability.
In total Radius will secure an additional 62,000 connected devices to the business, bringing its total vehicle tracking connections to around 237,000.
The new agreement marks Radius’ third telematics investment in four weeks and follows the purchase of UK company Sure-Track and US company CyntrX; Radius also purchased fleet insurer, The Burley Group in October.
Bill Holmes, chief executive of Radius, said: “Our partnership with Key Telematics is an important strategic move that will boost our business globally. It’s a partnership that gives us access to a new technical platform, expertise and customers with an innovative product that differs from – but is complimentary to – our current telematics offerings.”
Clive Killops, CEO of Key Telematics, added: “The deal with Radius is a very exciting development for Key as we have the backing of one the of UK’s most successful and growing private companies. We know we have a market-leading technical platform and with Radius we now have the investment and wherewithal to take on the global market.”