South African Firm Acquires Control of Tripmaster
ontrol Instruments Ltd., a South African maker of electronic onboard vehicle computer systems, said it has acquired a majority interest in Tripmaster Corp. for $3.5 million. The deal, announced in late March, gives Control Instruments a 51% stake in Tripmaster, Arlington, Texas.
The companies said they will have a combined 250,000 users of their onboard recording and telematic systems in 40 countries. Telematics refers to the transfer of data from onboard computer systems to systems at company terminals.
Richard Geib, chief executive officer of Tripmaster, said the deal is an important step for the company. “They have an extraordinary user base and world-class expertise in developing new systems,” he told Transport Topics.
Geib said Control Instruments offers a Web-based system for EOBR users, which raises “the level of service” Tripmaster can offer.
Private fleets are showing more interest in onboard recorders, Geib said. Carriers are using data from the devices, such as speed, in court. Geib, previously the majority owner of Tripmaster, will retain a minority stake.
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