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Ctrack Middle East and Africa Technology

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Year established

2019

Location

Abu Dhabi United Arab Emirates

Primary Industry

Software

About

Based in Abu Dhabi, United Arab Emirates, and founded in 2019, Ctrack Middle East and Africa Technology is a digital infrastructure platform that provides fleet management, insurance, and weather telematic solutions and asset tracking solutions to its subscriber in United Arab Emirates, Ethiopia, Kuwait, Qatar, Oman, Somalia, Iraq, and Bahrain. In 2021, Convergence Partners has entered an agreement with Inseego Corp. to acquire 100% of Ctrack’s operations in Africa and the Middle East. The agreement is subject to customary conditions including approval by the Competition Authority of South Africa. The company specialize in providing intelligent solutions for fleet and assets management, safety and security, driving behaviour, productivity and efficiency and control compliance. The firm's future plan to enhance and accelerate its digital infrastructure.
Current Investors
Solcon Capital

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Primary Industry
Software
Sub Industries
Systems Management Software, Customer Relationship Management, Analytics & Performance Software
Website
www.ctrackmea.com
Verticals
Cloud Computing
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only

Deals

Deals Type
Buyout
Deal Status Target (s) Deal Date Investor(s) Seller(s) Deal size (Mn) Enterprise value (Mn) Post-money valuation (Mn) EBITDA multiple (x) Revenue multiple (x) Lead partner (s)
Completed Ctrack Middle East and Africa Technology 24 Feb 2021
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