The amount of the deal was not disclosed.
The firms are joining control shareholder GTCR as investors in the company. The transaction establishes an enterprise value in excess of $1.5 billion for Lytx and raises over $700m in capital.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Chairman and CEO Brandon Nixon, Lytx provides a video services program that delivers a configurable user interface to give fleet managers visibility into their fleet operations, both in the moment and up to a week later. The company serves more than 3,000 commercial and government fleet clients.
FinSMEs
09/04/2018