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global telematics takeover with aussie acquisi

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    Endace team launches global telematics takeover with Aussie acquisition | Print |
    Ken Lewis
    Wednesday, 11 July 2007

    Selwyn Pellet sets sights on telematics
    The team that successfully listed local network and acceleration company Endace on AIM, the alternative London Stock Exchange, has taken its first steps in a plan to dominate the global telematics industry.

    Selwyn Pellett and Claire Mitchell, the cornerstone team behind the 2005 Endace AIM listing, are key figures in a newly formed Australian holding company that yesterday acquired SmartTrack, a leading Australian internet-based tracking and messaging company, for AU$6.6 million.

    The holding company, Imarda Ltd, was formed by private investors as a vehicle to acquire companies within the global Telematics market including, mobile computing, location-based services (via GPS) and mobile communications companies.

    The acquisition of the six-year-old Australian tracking company is the first step in Imarda's strategy to buy best-of-breed Telematics solutions around the world and "quickly take advantage of economies of scale in terms of volume, go to market expense and brand building".

    "The global telematics industry is set for major growth and scale in this industry will be critical", says Imarda executive chairman Selwyn Pellett.

    "Imarda intends to be a global powerhouse in this space and we will move aggressively to achieve this goal. SmartTrack is the first of our acquisitions, but we are already in discussions with a number of other companies around the world that share our vision of becoming a one stop shop for Telematics solutions."

    SmartTrack provides fleet and vehicle tracking, monitoring and security monitoring to a number of large Australasian companies, including Boral, Toll, Woolworths, Energex and Australian Air Express. It has offices in Perth and Sydney.

    Under the terms of the acquisition, SmartTrack's co-founder and managing director Simon Illingworth will become a director and shareholder of Imarda. "Being part of Imarda gives us the opportunity to work with a team of people who have proven experience in establishing and managing high-growth, technology companies and taking them global", Illingworth says.

    According to Imarda CFO and COO, Claire Mitchell, SmartTrack represented all the qualities the company was looking for - great technology, a strong customer base, local market domination, world-class leadership, positive cash flow and a desire to take the next step and expand beyond its current geographical base.

    Pellett confirmed that Imarda will seek a public listing sometime in the next 18 months.



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