Radius Payment Solutions has announced the acquisition of Plant-i, a provider of tracking and telemetry solutions to the plant and construction sectors.
Plant-i tracks 25,000 assets and this acquisition will take Radius, the group behind the telematics and fuel card brands Kinesis and UK Fuels, to 120,000 devices.
The new deal gives Kinesis important additional technical capabilities and an entry into the plant and construction sectors.
Radius has also indicated that: “Plant-i’s specialist expertise in connected camera technology is of particular strategic interest,” and it hopes the solution will enhance its offering “considerably”.
Radius Payment Solutions’ chief executive Bill Holmes said: “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.
"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.”
Following closely on from the Adam Phones acquisition in late 2018, the 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.
Plant-I’s founder and chief executive officer Sam Browne said: “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.
"After months of discussions, we feel Radius offers everything we believe in and they are the perfect company to take Plant-i forward.”