Africa News: Tracker acquires Mobile Data

South African stolen vehicle recovery company, Tracker, has acquired all the equity in Mobile Data, a vehicle monitoring company previously owned by WesBank.

Launched only two years ago, Mobile Data offers fleet management and telematics through its Skytrax range of products.

Tracker has also secured the technological expertise and IP development rights to the Skytrax technology, which was originally developed by Infotech.

As part of the transaction, WesBank will now hold a 32.5% stake in Tracker, with VenFin owning 31% and the Mineworkers Investment Company (MIC) increasing its shareholding to 26.5%. The balance of the equity (10%) is held by a private investment consortium.

This transaction has increased Tracker's value from around ZAR1.6 billion to more than ZAR2 billion.

According to Tracker’s managing director Pierre de Clerk, one of the company’s goals is to become the outright leader in total vehicle communication in South Africa, through stolen vehicle recovery, vehicle monitoring and telematics.

“From a brand perspective, Tracker will retain its identity with Skytrax becoming part of the company's product offerings,” said de Clerk.

While the Mobile Data acquisition has created a platform for Tracker to explore business opportunities offshore, de Clerk emphasises that the company will not lose its focus on stolen vehicle recovery, which has been its primary business for so long.

The Mobile Data acquisition will increase Tracker's database by some 35,000 to approximately 450,000 vehicles, making it the largest vehicle communications company in South Africa.

Since opening its doors in 1996, Tracker has successfully recovered around 33,000 stolen and hijacked vehicles.