Trakm8 acquires DCS for £3.3m
16 June 2015
Author: Daniel Puddicombe
Telematics company Trakm8 has acquired DCS Systems for £3.3 million.
DCS designs and distributes camera systems for cars, bicycle and security markets. It trades under three brands - Roadhawk, Dogcam and Lawmate.
Trakm8 said cameras are increasingly being used alongside telematics systems. According to the company, video data is increasingly used to monitor behaviour and to replay outcomes.
It also said that it has previously supplied telematics systems to Roadhawk customers.
Trakm8 funded the acquisition from its existing cash stock. DCS's last unaudited accounts for its financial year reported a pre-tax profit of £600,000.
Trakm8 has also appointed three new members to its board of directors. Bill Duffy is joining the board as an independent non-executive director. In the past, he was the CEO of Andrew Page and Halfords Autocentre.
The other additions to the board are Sean Morris as the group engineering director and Mark Watkins as group operations director.
"The acquisition of DCS marks another significant milestone in Trakm8's growth strategy and reflects the growing demand from our fleet and insurance customers for camera applications," said Watkins, "We plan to deepen the integration of the camera technology into our telematics solutions for both our fleet and insurance clients."