Wednesday, 23 December 2020 09:53

Livingston based Route Monkey bought in £9.1 million deal

Livingston based fleet routing specialist Route Monkey has been bought by AIM listed telematics and data provider Trakm8 Holdings Plc for £9.1 million.

The Acquisition is in line with Trakm8's strategy of augmenting its organic growth with selective acquisitions that expand its telematics offering to both insurance and fleet customers.

John Watkins, Executive Chairman of Trakm8 commented:

“The acquisition of Route Monkey is highly complementary to Trakm8 as it adds route planning and optimisation capability to our existing technology, a key to enabling us to offer integrated solutions to customers in line with the development of market requirements.

“We look forward to welcoming the Route Monkey team into the growing Trakm8 group and expect the business will add another source of organic sales growth and recurring revenues.

“Together the acquisitions of Route Monkey and DCS (completed in June 2015) significantly enhance Trakm8’s competitive advantage, add substantial growth opportunities, and are expected to be earnings enhancing.”

Route Monkey is a software provider which specialises in solutions that optimise fleet route planning. Its software generates savings and efficiencies for organisations by optimising their fleet, resources and infrastructure. Its main products include mathematical algorithms, software and consultancy. Customers include Shell, BMW, Yodel and Iceland.

The business was founded in 2009, and will continue to be based in Livingston, Scotland whilst retaining its small offices in Gateshead and Amsterdam; it currently has 23 employees (including six engineers and five sales people). Senior management are being retained and incentivised.


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