Himex has announced its acquisition of Road Angel Fleet, a developer of GPS-based tracking products for consumer and commercial automotive markets in the UK since 2002.
The acquisition provides Himex with a large and diversified customer base using its fleet telematics system, with over 10,000 units in service across the UK.
“As we expand our usage based insurance product marketing in the UK, the customer will benefit from combination of the proven Road Angel Fleet technology and the Himex UBI 3 Virtual World Platform,” said Hassan Sadiq, chairman and CEO, HIMEX.
“We are pleased to build upon the insurance and telematics expertise we have developed in the rapidly expanding US market for usage and behaviour based insurance products.”
Following its acquisition of US-based Evogi Group in 2012, the addition of Road Angel Fleet positions Himex as a leader in developing platforms and supporting carriers for insurance and fleet management globally.
In the United States, the company has contracts with many leading carriers for the implementation of usage based insurance for personal and commercial use and the development of mobile applications.
The transaction was completed in March 2013, when Himex acquired full control of Northamptonshire-based Mileage Management, doing business as Road Angel Fleet.
The terms of the transaction are not disclosed. Road Angel Fleet employees have continued with the new organisation.