Control Instruments, corporate parent of Tripmaster, and Matrix Vehicle Tracking Limited plan to merge their worldwide fleet management system divisions. The deal will create a global entity with a combined base of 165,000 fleet customers and 450,000 vehicles in more than 40 countries.
The merger includes Grand Prairie, TX-based Tripmaster Corp., which is owned by CI OmniBridge, one of Control Instrument’s business units. Merging these different fleet management systems under one roof will help them build market share in four specific countries-- South Africa, the UK, Germany and the U.S.-- said Chris Hines, CEO of Tripmaster.
“The businesses of both companies compliment each other very well; with CI OmniBridge focused primarily on commercial vehicle fleet management and Matrix on consumer vehicle tracking and personal safety,” Hines said. “The two businesses operate in different sectors of the fleet telematics market. The combined business will have a critical mass, a global presence, proven technology and a large customer base.”