UK: Transport software company Tracsis plc has acquired smart ticketing, back office and automated delay repay specialist iBlocks.
Tracsis said the acquisition would support its objective of strengthening its rail product portfolio in areas where it can offer a unique market proposition. The company would gain access to important partnerships and leverage cross-selling opportunities across its Rail Technology division.
‘We believe the unique technology offering that iBlocks has developed along with long established client relationships will open up an exciting new area of opportunity’, said Tracsis CEO Chris Barnes on March 11. ‘The smart/account-based ticketing market in particular is an area of the rail industry that will see significant future industry change and growth. We welcome the iBlocks management team and all staff to the Tracsis Group, and look forward to helping them achieve their growth aspirations as part of a larger organisation.’
iBlocks director Tim Brewer said the company had established a good reputation over the past 15 years, but ‘being part of a larger group will enable us to unlock opportunities that will benefit the UK rail industry and accelerate our growth.’