Since its inception 35 Years ago in South Africa, Ctrack has become a global leader in fleet management, asset monitoring solutions, and insurance telematics. At the core of Ctrack’s business is the ability to manage fleets efficiently, reduce risk and ensure that assets and their occupants are always visible.
In August last year, the Ctrack Africa & Middle East business was acquired by investment management firm Convergence Partners when they purchased the shares of the current South African entities from Inseego.
Subsidiaries based in the United Kingdom, Europe & Australasia remain part of the Inseego portfolio and will henceforth trade under the name of their parent company Inseego.
Ctrack will continue to use its powerful brand and related product names, which have a rich history spanning 35 years, in the African and the Middle Eastern markets while continuing to develop world-class technologies for their customers in those markets and beyond. Re-entry into other global markets is being planned and is part of the strategy in the near future.
“Locally, we will continue to be known as Ctrack. Ctrack remains proudly South African, and we have a reputation for developing solutions locally for our unique local conditions, many of which happen to be ideal for various global markets,” says Hein Jordt, Chief Executive Officer of Ctrack Africa.
At home, Ctrack’s proudly South African research and development operations continuously research, develop and implement cutting-edge technologies to ensure fleet operations and assets are visible using future-proof solutions, resulting in new products and functionality for clients and the refinement of existing hardware and software offerings. The recent launch of Ctrack Crystal, the all new, always live, and in the cloud, fleet management platform, will imminently be bolstered by a variety of additional functionality, resulting in a software platform, with global competitiveness, illustrating the international competitiveness, and proficiency of the Ctrack research and development division.
Convergence Partners is a seasoned pan-African private equity investor focused exclusively on the ICT sector in Africa, with experience in developing businesses to deliver enhanced financial returns while underpinning significant continental development, which is making the group a powerful force to content with.
“With a renewed focus on the region, Ctrack will continue to evolve our fleet management solutions while developing and servicing the world-class eco-systems that we have developed for our customers. The management of Ctrack believes that in partnership with shareholders Convergence Partners, we have opened up a gateway of opportunities for the business and believe that the company is ideally positioned to move forward and capture global market opportunities,” concluded Jordt.