SkyLab Solutions Acquired by VisionTrack Inc
SkyLab Solutions, a fast-growing US fleet telematics company, has been acquired by VisionTrack Inc, Europe's leader in video telematics, to accelerate its expansion in the US marketplace.
SANTA MONICA, Calif., July 28, 2021 /PRNewswire-PRWeb/ -- SkyLab Solutions, a fast-growing US fleet telematics company, has been acquired by VisionTrack Inc, Europe's leader in video telematics, to accelerate its expansion in the US marketplace.
VisionTrack's multi-million-dollar deal for the California-based, fast-growing, fleet technology business represents the company's first major investment in North America and will support the roll-out of its award-winning video telematics solution in the region.
Alexander Mee, Founder/CEO of SkyLab Solutions and now President of VisionTrack Inc, said: "SkyLab Solutions' 115% CAGR over the past three years has proven the team's ability to both execute on growth and solve complex customer problems in the highly-competitive US telematics market. Partnering with VisionTrack to provide video telematics three years ago as part of our offering showed us the value in their award winning proposition. The market for advanced video telematics is rapidly expanding and it became clear that SkyLab Solutions' next phase was best achieved as a platform for driving VisionTrack's ambitious plans for growth in North America."
The Skylab Solutions team will join the recently formed VisionTrack Inc business. The company will continue to support existing Skylab Solutions customers, with a focus on capitalizing on VisionTrack's relationships with many of the world's leading telematics providers and target enterprise fleets. To achieve this, VisionTrack is due to introduce a range of PTCRB-and FCC-approved, next-generation AI dashcams and MDVRs that are underpinned by its Microsoft Azure, US-hosted IoT platform, Autonomise.ai.
Simon Marsh, CEO of VisionTrack, commented: "SkyLab Solutions has been a valued partner for the past three years. Its team has a detailed understanding of the fleet marketplace in the US and many years of telematics experience, so we are confident it will make a huge contribution to the business. We have ambitious plans in North America, and this is an important step in replicating our achievements in the UK, Ireland and mainland Europe."
VisionTrack plans to rapidly scale-up its new US venture, adding extra channel business development, account management and technical support resources, as well as creating a US-based DevOps team. In addition to increasing the headcount, the company also intends to expand its office network and warehousing capabilities to create the infrastructure needed to drive targeted growth.
About SkyLab Solutions
SkyLab Solutions is a high-growth, California-based fleet telematics company working with world-class US customers to solve the critical challenges of capturing and analyzing fleet metrics to drive operational ROI and maximize fleet safety outcomes.
About VisionTrack
VisionTrack is a leading provider of cloud-based video telematics. The company's unique approach is helping tackle some of the most complex challenges faced by the fleet, transportation and insurance sectors, providing the operational insight, business intelligence and enriched vehicle data needed to make strategic mobility decisions.
Media Contact
Alexander Mee, SkyLab Solutions, +1 (714) 224-8724, [email protected]
SOURCE SkyLab Solutions
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