Specialist ICT investment firm Convergence Partners has acquired Ctrack’s operations in Africa and the Middle East from Nasdaq-listed Inseego.

The investment whose value has not been disclosed is the maiden investment for Convergence Partners’ third fund, the Convergence Partners Digital Infrastructure Fund (CPDIF).

The deal, which must still be approved by the Competition Commission in South Africa, gives Convergence Partners access to a telematics software-as-a-service digital infrastructure platform providing fleet management, insurance, and weather telematic solutions and asset tracking solutions.

“Our interest in the business relates to its proven market leadership in the development of analytics solutions using big data extracted from the cloud platform”

Read more...https://media.getfundedafrica.com/2021/03/01/investment-firm-convergence-partners-acquires-ctrack-africa/