Internet of things

CameraMatics snaps up Telematicus in first acquisition

Industry experts suggest Irish company paid between €3m and €5m to acquire the Macclesfield-headquartered telematics business

Financial details relating to the transaction have not been publicly disclosed but industry experts suggest CameraMatics, founded by Mervyn O’Callaghan and Simon Murray, likely paid between €3 million and €5 million to acquire Telematicus. Picture: Fergal Phillips

CameraMatics, an Irish Internet of things (IoT) fleet and vehicle safety technology specialist, has made its first acquisition, snapping up Telematicus, a British telematics company.

Financial details relating to the transaction have not been publicly disclosed but industry experts suggest CameraMatics likely paid between €3 million and €5 million to acquire the company, which is headquartered in Macclesfield.

Telematicus was founded in 2009 by professionals with backgrounds and experience in automotive service, repair, diagnostics, manufacturing ...