(openPR) - As of March 31st, the shareholders of Truck24 AG, including a fund of Wellington Partners, sold 100% of the company to Cybit Holding Plc, a UK-based supplier of telematics solutions.

Truck24 AG, based in Oberhaching near Munich, is a leading Central European telematics service provider (TSP), specialising in the HGV and logistics sectors across Germany, Switzerland and Austria. The company has more than 200 customers with 3,300 installed units. The Truck24 product range is touch-screen based for ease of use, and can be fully integrated into end-to-end logistics operations, including planning and scheduling, to reduces costs and increase transparency across the supply chain. All services can be linked with the “FleetExplorer”, a highly scalable web-based platform. With more than five years of extensive experience in the telematics industry, Truck24 has become a strong brand in the fast growing telematics market. All staff will transfer on acquisition, and its CEO will become part of the Cybit international management team. In 2007, Truck24 generated revenues of EUR 5.3 million.

Through this acquisition Cybit Holding Plc gets direct access to Central Europe and strengthens its position as a European leading telematics vendor, creating a customer community of over 1,700 and more than 70,000 mobile assets tracked by Cybit Group hardware and software solutions. It will also help accelerate Cybit’s ability to deliver new initiatives, such as CanBus engine management integration and digital tachograph. CanBus-generated vehicle performance data helps unlock a range of new cost savings and efficiency enhancements within a vehicle fleet.

Cybit Holdings Plc, based in Huntigdon, UK, is a global force in Telematics, operating within three core sectors: Internet-based vehicle Telematics solutions; Economic Exclusion Zone (EEZ) Management; and Private Mobile Radio (PMR) based asset tracking and precise positioning solutions. Cybit Holdings generates revenues of above EUR 20 million and is listed at the London Stock Exchange.

As a corporate finance consultant, Hübner Schlösser & Cie (www.hscie.com) provided Truck24 during all phases of the transaction.

Hübner, Schlösser & Cie
Joachim Schlösser
Dr. Markus Tschernig
Luise-Ullrich-Straße 8
82031 Grünwald
Germany

Phone: +49 (89) 998997-0
Fax. +49 (89) 998997-33
info@hscie.com
www.hscie.com

Hübner Schlösser & Cie, located in Grünwald near Munich, is an independent corporate finance advisory firm, specialised in acquisitions and divestitures of medium-sized and large companies worldwide. In the last years the firm advised in more than 100 transactions with a total transaction value in excess of EUR 17 billion. Hübner Schlösser & Cie is one of the leading advisory firms for medium-sized transactions in Germany.