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LONDON (Alliance News) - Telematics and data provider Trakm8 Holdings PLC on Friday said it has reached 100,000 units reporting to its servers for the first time.
On the back of the milestone, the company has made a GBP300,000 investment to extend its existing facilities at the BOX Telematics factory in the West Midlands.
The investment will be made into a new surface mount assembly line, which will be installed at the factory in the next couple of weeks.
"This marks a significant milestone in Trakm8's history and reflects the growing demand from our fleet, insurance and integrator customers. Furthermore, this investment represents the next stage of our development of the BOX manufacturing facilities in order to meet our customers' expectations for efficient delivery of high quality telematics products," said Executive Chairman John Watkins.
Shares in Trakm8 were up 2.3% to 111.5 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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