Video telematics company Lytx has signed an agreement to be acquired by Chicago-based private equity firm GTCR, the company has announced.
Lytx to Be Acquired for $500 Million
Video telematics company Lytx has signed an agreement to be acquired by Chicago-based private equity firm GTCR.
by Staff
February 18, 2016
The Lytx ActiveVision is one of HDT's Top 20 Products of 2016. Photo: Lytx
1 min to read
The deal is an all-cash transaction of over $500 million and is seen as a move to expand Lytx’s place in the telematics market with a broader portfolio of services and data. Lytx was started in 1998 and provides a range of subscription-based services to help fleets improve driving behavior with products that include its DriveCam offering.
In 2015, Lytx saw close to 80% growth in the number of subscriptions sold, totaling more than 300,000 subscriptions.
"Over this past year, video telematics pivoted from being a nice-to-have to a must-have among commercial and public sector fleets," said Brandon Nixon, Lytx chairman and CEO. "This new chapter will allow us to significantly expand the portfolio of services delivered to our growing installed base, and give us the room to deliver a broader variety of actionable data to help our clients solve tough business problems."
The Lytx executive leadership team will continue in their roles, and Nixon will remain chairman of the board and CEO.
More Fleet Management
ATA’s Spear Warns Fuel Prices, Trade Policy, and Global Conflict Could Stall Trucking Recovery
Speaking at the TMC Annual Meeting in Nashville, ATA President Chris Spear said trucking faces mounting pressure from rising fuel prices, geopolitical instability, and uncertainty around trade policy.
Read More →
New Entrants, Chameleon Carriers, and Safety: Is It Too Easy to Start a Trucking Company?
More than 100,000 new trucking companies enter the industry each year, but regulators manage to audit only a fraction of them. That churn creates opportunities for inexperienced startups — and for “chameleon carriers” that shut down after safety violations and reappear under new identities. Read more from Deborah Lockridge in this commentary.
Read More →
Fleet Managers Invited to Apply for Exclusive HDT Exchange Event
HDTX is an intimate event that connects heavy-duty trucking fleet managers with industry suppliers through small-group discussions, educational sessions, and structured one-on-one meetings.
Read More →
DAT Launches iPhone Widget to Help Owner-Operators Find Loads Faster
New DAT One feature shows top-paying loads directly on an iPhone’s home screen, helping carriers react faster to spot-market opportunities.
Read More →
Optimal Dynamics Launches AI System to Help Carriers Choose Better Freight
Optimal Dynamics says its new Scale platform uses AI agents and optimization to help carriers find and secure freight that improves network balance and profitability.
Read More →
DAT: Flatbed Demand Climbs as Van and Reefer Rates Soften
DAT Freight & Analytics data shows tightening flatbed capacity, easing produce markets, and softening van and reefer rates.
Read More →
Run on Less “Messy Middle” Data Shows Multiple Paths Forward for Truck Powertrains [Watch]
NACFE's Run on Less - Messy Middle project demonstrates the power of data in helping to guide the future of alternative fuels and powertrains for heavy-duty trucks.
Read More →
Federal Court Lets NYC Congestion Pricing Continue
A federal court ruling allows New York City’s congestion pricing program to continue, leaving truck tolls in place for fleets delivering into Manhattan.
Read More →
Fontaine Modification Launches Real-Time Truck Modification Tracking Portal
Fontaine Modification has introduced a new customer portal designed to give fleets real-time visibility into the truck modification process, addressing one of the most common questions fleet managers face: “Where’s my truck?”
Read More →
FTR: Trucking Conditions Index Climbs to Highest Level Since 2022
Strong freight rates, rising volumes and tighter capacity push trucking conditions higher, though diesel prices could temper gains in the near term, FTR cautions.
Read More →