Viasat Group, a subsidiary of Targa Telematics, has completed its acquisition of Trackit after buying the remaining share capital.

Viasat is pushing ahead with plans to integrate the Trackit portfolio within the wider group

Viasat already held a 60% stake in the Portuguese fleet management specialist through a transaction finalised in 2018.

It’s now purchased the remaining 40% and is pushing ahead with plans to integrate the Trackit portfolio within the wider group.

Trackit offers solutions ranging from fleet monitoring to security via embedded computing. The company will retain its own name and brand in the Portuguese market, while playing a key role in international markets in ad hoc synergies with the entire Targa Telematics network.

The deal comes some seven months after Targa closed its own acquisition of Viasat Group, accelerating its expansion in Europe.

Nicola De Mattia, CEO of Targa Telematics

Nicola De Mattia, CEO of Targa Telematics, said: “We are continuing our work to present an offer to the market in the field of connected mobility that is increasingly complete and innovative.

“The completion of the acquisition of Trackit is one more component of our ongoing investments in cutting-edge technologies that allow us, together with our clients, to create digital transformation projects increasingly targeted towards a joint design of the mobility of the future.”