TagMaster announces the acquisition of CA Traffic
Press release, Stockholm, Sweden, April 27, 2017
TagMaster, the leading supplier of advanced RFID products and ANPR cameras for vehicle identification within Traffic and Rail Solutions, today announces that it has completed the acquisition of CA Traffic Ltd from Hill & Smith Holdings PLC for a total cash consideration of £3m.
CA Traffic Ltd was established in 1994 and is the leading traffic monitoring company, offering an array of sensor products, ITS software systems and high specification ANPR cameras, in UK. It has provided traffic monitoring devices to UK local authorities for 25 years and supplied intelligent ANPR camera systems to UK police since 2010. CA Traffic is recognised as providing market leading technology with a strong service portfolio.
The acquisition is expected to be earnings enhancing to TagMaster in the current financial year.
”TagMaster is excited about this important step in our growth strategy and we will together with CA Traffic become a stronger player in the Traffic Solutions market. Following this acquisition we will continue to establish ourselves as an important player in Smart City solutions. There are clear and immediate synergies between CA Traffic and CitySync on the ANPR/ALPR offering. With the combined expertise at CA Traffic and CitySync we believe we have an excellent opportunity to become one of the main players in the fast growing international ANPR/ALPR market. We will also take full advantage of CA Traffic’s technical expertise in traffic monitoring products starting with our Nordic and French home markets. Through the acquisition we will also in the mid-term be able to increase our presence in a growing US infrastructure market” says Jonas Svensson, CEO, TagMaster
Commenting on the acquisition, Bernard Greene, CA Traffic MD, said “We have been working with CitySync for some years and are now very pleased to be joining the TagMaster group. We recognise and welcome the strength that the union will bring to both brands and the synergies that are immediately apparent with the other TagMaster companies.”
For further information please contact:
Jonas Svensson, CEO, +46 8-6321950, email@example.com
This information is information that TagMaster AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 CET on April 27, 2017.
TagMaster is an application driven technology company that designs and markets advanced identificationsystems and solutions based on radio & vision technology (RFID & ANPR) for demanding environments. Business areas include Traffic Solutions and Rail Solutions providing innovative mobility solutions, sold under the brands TagMaster, CitySync & Balogh, in order to increase efficiency, security, convenience and to decrease environmental impact within Smart Cities. TagMaster has dedicated agencies in the US and in China and exports mainly to Europe, Middle East, Asia and North America via a global network of partners, systems integrators and distributors. TagMaster was founded in 1994 and has its headquarters in Stockholm. TagMaster is a public company and its shares are traded on First North stock exchange in Stockholm, Sweden.TagMasters certified advisor is Remium Nordic AB. For more information about TagMaster, please visit www.tagmaster.com