Completion of Acquisition of Cybit by Francisco Partners
Cybit Holdings Plc the leading provider of telematics services and software confirms today the completion of the acquisition of Cybit Holdings Plc by Francisco Partners, one of the world’s largest global technology-focused private equity firms.
Francisco Partners is a global technology-focused private equity fund that provides transformational growth capital to technology businesses. The firm is one of the largest technology-focused private equity funds in the world and has invested approximately $4 billion of equity capital in over 50 technology companies since its founding in 1999.
The acquisition completes a process under which Cybit de-listed from the London stock market and moves into private ownership. Commenting on the acquisition Deep Shah of Francisco Partners said:
“Francisco Partners is excited about the potential opportunities in Cybit’s core markets, and is pleased to partner with the company to support its long-term growth strategy. We also believe that Cybit has a highly talented and committed team and we look forward to working with them to help the company achieve its full potential.”
Chief Executive of Cybit Holdings Plc, commented:
“We are pleased that the acquisition by Francisco Partners has been completed as we believe that his transaction will help us build on our success over the past decade and enable Cybit to be positioned at the forefront of the telematics market.
“The acquisition further enhances our ability to offer a world-class integrated solution as companies look for a low-risk partners to deliver an enhanced return on investment through the implementation of next generation of telematics services.”
- Ends-
Notes to Editors:
About Francisco Partners
With nearly $5.0 billion of committed capital and offices in San Francisco and London, Francisco Partners is one of the world’s largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies undergoing strategic, technological, and operational change. Francisco Partners targets majority and minority investments in private companies, public companies, and divisions of public companies, with transaction values ranging from $30 million to $2.0 billion. The principals of Francisco Partners have a proven track record, having invested approximately $4 billion of equity capital in over 50 technology companies. For additional information, visit www.franciscopartners.com.
About Cybit
Cybit operates within three core sectors: Vehicle Telematics Solutions; Maritime Solutions; and Private Mobile Radio (PMR) based tracking and precise positioning solutions. Its products and services enable companies to monitor and position mobile assets, manage service level agreements, enhance employee duty of care and comply with legislation. In the Vehicle Telematics sector, Cybit is one of Europe’s leading Telematics Service Providers (TSPs). Approximately 2,000 business-to-business clients use its fleet and asset management solutions to manage in the region of 50,000 mobile assets. Solutions include in-vehicle technologies, workflow management and internet-based monitoring and reporting software. The Company also provides consulting services to advise on legal issues such as duty of care and working hours.
Cybit’s Maritime Solutions business, BlueFinger, is recognised as one of the world’s leading suppliers of Fisheries Vessel Monitoring Systems. Bluefinger provides the fisheries authority with the necessary tools for managing their licensed fishing fleets and coordinating the activity of the fisheries patrol vessels that enforce national fisheries policy throughout the EEZ. BlueFinger’s Saffire-Online system is ideal for race organisers to track the position, direction and speed of each yacht and vessel in ocean going or inshore races.
Its PMR business, Cybit Positioning Solutions, provides asset-tracking and security solutions for both maritime and land-based applications including exploration and mining. Its precise positioning solutions assist in the location and exploitation of oil, gas and mineral reserves around the globe. www.cybit.co.uk