Touch screen ticketing machine maker Cammax has been acquired by Canadian transport tech group Modaxo.
The Castleford-based manufacturer of self service machines – typically used in car parks, public transport stations and by the NHS – has become part of the acquisitive Ontario-based group which owns a range of transport software companies internationally. Details of the deal, including its value, have not been made public.
Modaxo bosses said Cammax, which employs about 40 people, has developed a strong reputation for customisable, user-friendly software for transport and parking operators in the UK. Its customers include Bristol City Council, West Midlands Combined Authority and Parking Eye, among others.
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The Canadian buyer, which is said to boast more than $4bn (£3bn) of consolidated revenues and a combined workforce of 25,000, said Cammax will maintain its brand and autonomy but benefit from group investment and support. Julian Rooney will continues to lead the business with the existing management team.
Mr Rooney, managing director at Cammax, said: “Joining the Modaxo family is an exciting milestone for Cammax. We share a common vision of transforming the transportation and parking experience through technology. Now with Modaxo we feel we can deliver even more value to our customers and drive the industry forward.”
Laurent Eskenazi, head of EMEA, UK, and Asia at Modaxo, said: “We are delighted to welcome Cammax and its employees and customers to the Modaxo family. Cammax’s impressive track record in simplifying travel and parking payments aligns with our vision of creating seamless mobility experiences for all.”
Dow Schofield Watts advised Cammax and its shareholders on the cross-border deal, with Gordons LLP providing legal advice, led by partner James Fawcett. Roger Esler, corporate finance partner at DSW, said: “we have worked with Cammax over several years and witnessed its evolution as a fantastic, Yorkshire-based, technology-led business. This strategic sale to a global technology group will form a fantastic platform for further growth and development.”
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