Greenwoods advises leading fleet software and technology business on the sale of its group company

Movolytics Group Holdings Limited is a Cambridge-based fleet management and tracking business that sold its entire shareholding to ABAX UK Limited, a telematics specialist. The team worked incredibly hard in supporting their client  and getting this deal over the line.

ABAX UK Limited have predicted this acquisition will expand its revenue base by 50% in three years.

Chris Smith, chief executive of Movolytics Group Holdings Limited, said:

his team had been “looking for opportunities to take Movolytics to the next level” and “we are truly excited to have found new owners whose vision we believe in and whose customer focused ethos we share“.

Emma Dyga, chief executive  of ABAX UK Limited, said:

“The integration of Movolytics under the ABAX umbrella signifies a bold step forward in expanding our market reach within the telematics sector”.

Stephen Jarvis, Partner and Head of our Corporate & Commercial team, said:

“With insights from specialists across the firm, we had the privilege of advising on this deal. This transaction signifies a noteworthy chapter in the journey of Movolytics and Abax. As ever, I am incredibly proud of us all for closing the deal and delivering the results for our client.”