Telematics provider Trackunit has announced that it is acquiring the Industrial IoT division of ZTR with the aim of serving the growing demands of the construction industry as a new combined entity, extending its core focus to accelerate digitalisation in construction.
Soeren Brogaard, CEO of Trackunit, said: “We see the industry at a pivotal turning point when it comes to digitilisation of their business and equipment – and customers are looking for a trusted partner. Together, we are strengthening our core focus on enabling the ecosystem of construction. By combining our businesses, we’re elevating our technology and increasing the value customers will be able to extract from their data.”
Sam Hassan, ZTR president and CEO, added: “By combining ZTR IIoT and Trackunit resources and offerings, we’re better equipped to serve the needs of the customers now and in the future. By coming together with Trackunit, we will be able to operate on a global scale to provide an expanded offering to OEMs, rental companies and contractors with greater efficiency and depth.”
A statement from Trackunit said that over the past few years, the realm of IoT and telematics possibilities has “evolved from simple track and trace technology into highly actionable insights that create massive value for key stakeholders”.
After the transaction closes. the combined entity of Trackunnit and ZTR will specialise in creating offerings that enhance utilisation, increase fleet availability, improve safety and reduce equipment loss as major value drivers. In addition, both companies will help customers in collecting data and translating it into actionable insights – enabling customers to build smarter and more resilient machines. Furthermore, the combined entity is dedicated to helping improve daily operations for customers with increased operator safety, machine health and business optimizations.
“Our promise to the industry is based on collaboration. With a purpose as determined and noble as eliminating downtime, we know that working with our customers to apply new digital tools, is absolutely necessary. We strive to solve real problems, building everything for scale, while showing compassion for our customers, partners, competitors, and the industry at large,” said Brogaard.
Both Trackunit and ZTR build solutions for the construction industry. Trackunit recently attracted a strategic investment from the British private equity company Hg to accelerate the company expansion, while ZTR has been transforming its business, and predicts growth through rising demand. Both Trackunit and ZTR have recently taken their first steps into, and secured traction in, the APAC region. Both businesses said they are ready to start the next chapter as one company, “focused on uniting the industry and shape it to become the most useful, effective and efficient in the world”.
“We’re focused on delivering our existing customer commitments and creating a smooth integration. This is all about bringing people, competence, and great technology together to create a bigger impact,” said Brogaard.
According to Trackunit’s statement, the construction industry is growing rapidly and experiencing accelerated investment in IoT capabilities, with construction now one of the top five industries for investment growth. As a result, data proliferation is expected to grow exponentially as penetration of connected equipment continues beyond 2025 and machine-level data grows. Given these developments, Trackunit and ZTR IIoT are teaming up to better help their customers meet the changes that come with the increasing digitalisation of the construction industry.
“ZTR and Trackunit together represent an incredible next step that will enable us to become a truly global player in the market. I’m excited to roll up my sleeves and take an active part in the executive team. I look forward to venturing out on this shared mission – one in which I have no doubt Soeren Brogaard will capably lead,” added Hassan.