Three Hills Capital Partners (THCP) is set to acquire a minority stake in Trak Global Group for more than £40m ($49m). Trak Global will use the funds to accelerate the development of telematics products via the DriveSync 6 platform of IMS, which it recently acquired. Trak Global’s customers include RSA, Volkswagen Financial Services, Nationwide Insurance (USA), Allianz and Zipcar. The deal comes as Tesla Motors (TSLA) and Mobileye (MIL), two leading suppliers of automotive sensors, are working together on developing autonomous driving technology.
Three Hills Capital Partners (THCP) is set to acquire a minority stake in Trak Global Group for more than £40m ($49m). Trak Global will use the funds to accelerate the development of telematics products via the DriveSync 6 platform of IMS, which it recently acquired. The deal comes as Tesla Motors (TSLA) and Mobileye (MIL), two leading suppliers of automotive sensors, are working together on developing autonomous driving technology.