NewswireToday - /newswire/ -
Cape Town, South Africa, 2007/11/14 - OmniBridge, a world leader in fleet management solutions and Matrix, top vehicle tracking and recovery company, announced the listing of TeliMatrix Limited on the Johannesburg Stock Exchange. NYSE: MIXT; JSE: MIX
South African telematics group TeliMatrix Limited listed on the Johannesburg Stock Exchange on 12 November 2007. Originally formed in 1995 as a vehicle tracking and recovery business, TeliMatrix now has operations in the United Kingdom, South Africa and Germany. TeliMatrix is the holding company of both OmniBridge (formerly Control Instruments OmniBridge), a global leader in fleet management products and services, and Matrix Vehicle Tracking. Based in Stellenbosch, OmniBridge focuses on commercial vehicle fleets, with solutions for Fleet Management, Driver Safety, Compliance, and Tracking and Tracing. The company assumed its new name after TeliMatrix acquired it from Control Instruments on 1 October 2007.
The objective behind the listing of TeliMatrix is to grow its operations and take advantage of a number of merger and acquisition opportunities one of which is the merger with OmniBridge. The recent convergence of vehicle tracking and fleet management technology holds many benefits and opportunities for the group. Although OmniBridge and TeliMatrix operate off similar technology platforms, their market segments are vastly different, creating considerable possibilities of expanding their worldwide client base. According to Charles Tasker, Founder and Managing Director of OmniBridge, the benefit of the merger and listing will be two-fold: “Firstly, the listing gives us a highly focused and integrated telematics group second to none in South Africa. Secondly, the combined markets of both OmniBridge and Matrix Vehicle Tracking result in a critical mass of subscribers in both consumer and commercial sectors, both locally and internationally”.
Combined with the recent acquisition of the Siemens VDO global distribution network and Siemens VDO’s UK Fleet Telematics business, OmniBridge is gaining further leverage and influence within the Fleet Management industry. Already a major global competitor, with blue chip customers across six continents and 75 countries, OmniBridge is positioned for dramatic accelerated growth as global trends and safety and transportation regulations within the market are creating an increased demand for their innovative products and services. TeliMatrix’s listing will serve as a platform for OmniBridge to further cement its reputation as a leader in the telematics industry.
Asked about OmniBridge’s strategy going forward, Tasker said, “We have 10 years of industry experience and are a highly cash generative business. OmniBridge will continue to focus on profitability and cash generation within the group and continue to seek out opportunities for organic and acquisitive growth.”
Founded in 1998, OmniBridge (omnibridge.com) is a global provider of fleet management products and services to companies of all sizes in over 75 countries on six continents. The company’s product range – formerly marketed under the VDO brand and sold by Siemens VDO for 10 years - helps fleet owners ensure driver safety, reduce fleet maintenance, running and fuel costs, comply with selected industry regulations, and track and protect vehicles and drivers. Customers include Parmalat, Schlumberger, Chevron, Greyhound, Spar, and Scania. OmniBridge has offices in South Africa, Germany and the United Kingdom and an extensive global distribution network. OmniBridge is a TeliMatrix Ltd company.