Radius Payment Solutions snaps up CyntrX to expand US telematics business
UK-based Radius Payment Solutions has acquired US telematics supplier CyntrX as it expands its global telematics portfolio.
Based in De Pere, Wisconsin, CyntrX targets fleet managers across North America, offering a mobile-friendly telematics platform designed to help enhance their fleet management capabilities.
The acquisition of CyntrX follows recent deals by Radius to further extend its global telematics portfolio, with the purchase of two UK based fleet tracking and vehicle camera solution providers, Sure-Track and Plant-I, to add to its existing UK Telematics and Kinesis brands.
The company – founded in 2015 – now has a total number of 175,000 tracked vehicles and assets, and claims to be one of the fastest-growing telematics companies in the world.
Bill Holmes, chief executive of Radius, said: “The acquisition of CyntrX brings to life our ambitions in North America, with a like-minded company which has a real focus on developing well supported, user-friendly products for customers.
“Through this acquisition, we will be able to leverage our combined knowledge of the telematics sector which presents a great opportunity for us to continue to grow quickly. We were particularly impressed with the comprehensive suite of products and services offered by CyntrX.”
Greg Taisto, president and CEO of CyntrX, added: “Bill and the Radius team bring incredible resources and global influence on our North American footprint. We are excited to combine our domain expertise with Radius and architect telematics solutions that will scale across platforms, industries and continents.”