Brazil’s largest vehicle leasing company Unidas has boosted its national vehicle tracking and telematics footprint with the acquisition of Getrack.
Estimated at 120 million reais (US$22.6mn), the deal involves 71mn reais in cash and 1,965,742 in Unidas shares held by subsidiary Agile, according to a company statement.
Being part of Minas Gerais based IT services company Nexcorp Serviços e Telecomunicações, Getrack operates in all states throughout Brazil.
When considering the Unidas’ acquisition of vehicle tracking and telematics company iTEr just last year, the two have given the leasing company a footprint of one million vehicles being tracked in Brazil.