Plant-i tracks 25,000 assets and this acquisition will take Radius to 120,000 devices, making them one of the largest telematics companies in Europe having only started selling telematics 2015.
The Plant-i brand will remain in place due to its strength in the industry, but this exciting acquisition gives Kinesis important additional technical capabilities and an entry into the plant and construction sectors. Plant-i’s specialist expertise in connected camera technology is of particular strategic interest to Radius and this market leading solution will enhance their offering considerably.
Following closely on from the Adam Phones acquisition in late 2018, the Radius group is now a key global player with more than 21 offices in 14 countries providing an array of products and services to over 300,000 customers.
Big opportunities in the global market place
“The acquisition of Plant-i is very important for us as it opens up some interesting new markets and boosts our technical resources and product offering,” said Bill Holmes, chief executive of Radius Payment Solutions.
“In particular, Plant-i has taken a lead in developing solutions for plant and construction sectors and their experience in areas such as safety and security fits perfectly within the group. We see big opportunities in the global market place.”
“Having grown Plant-i organically for over 15 years, I feel the next step for the company and its customers is to seek outside investment to accelerate growth, our product range, new technologies and market places,” added Sam Browne, founder and CEO of Plant-i.
“After months of discussions, we feel Radius offers everything we believe in and they are the perfect company to take Plant-i forward.”
Radius was assisted on the transaction by Shoosmiths (Legal advice and DD led by Tim Jackson-Smith) and Orbis (Financial and Tax DD – Malcolm Cook).