Targa Telematics to accelerate growth path under new investment
Targa Telematics has secured investment via Investindustrial, helping to drive its long-term growth plans.
Targa specialises in digital solutions in telematics, smart mobility and IoT platforms for mobility operators, backed by over 20 years of experience.
The new shareholding agreement with Investindustrial will help accelerate Targa’s international expansion started in 2016. This includes strengthening its leadership position in Italy and helping it become a leading company in the smart mobility sector, in the management of large fleets and in the insurtech sector at European and global level.
Targa also said the transaction would allow it to further consolidate the existing partnerships with its long-standing customers and to create new client opportunities. Current clients include TomTom, Sixt and Stellantis. In 2020, Leasys, the contract hire and mobility company of FCA Bank, launched two new products based on Targa Telematics technology: its I-link and Leasys Mile solutions.
“Investindustrial is the perfect partner to expand our team and pursue the path towards further strengthening and accelerating our growth and internationalisation,” said Nicola De Mattia, CEO of Targa Telematics SpA.
“We will thus continue our innovation process in IoT, which is in line with the industrial project that has been fully shared with the new investor. We will work side by side to position ourselves as the benchmark for smart mobility both in Europe and worldwide.”