Trackunit has acquired the Industrial IoT division of ZTR in what the two companies are describing as “uniting to better serve the growing demands of the construction industry.” Putting customer needs first, the two telematics leaders are merging and combining their considerable resources to accelerate innovation and drive digital transformation — with collaboration and service at the center of their strategy, the companies said.
“We see the industry at a pivotal turning point when it comes to digitalization of their business and equipment – and customers are looking for a trusted partner,” said Soeren Brogaard, CEO of Trackunit.
“By combining ZTR IIoT and Trackunit resources and offerings, we’re better equipped to serve the needs of the customers now and in the future,” added ZTR president and CEO Sam Hassan.
"As a new combined entity, Trackunit and the ZTR IIoT division will extend their core focus to accelerate the digital journey in construction, Hassan said. “By coming together with Trackunit, we will be able to operate on a global scale to provide an expanded offering to OEMs, rental companies, and contractors with greater efficiency and depth,” he noted.
“Together, we are strengthening our core focus on enabling the ecosystem of construction,” said Brogaard. “By combining our businesses, we’re elevating our technology and increasing the value customers will be able to extract from their data.”
Over the past few years, the realm of IoT and telematics possibilities has evolved from simple track and trace technology into actionable insights that create massive value for key stakeholders.
After the transaction closes the combined entity of Trackunit and ZTR will specialize in creating offerings that enhance utilization, increase fleet availability, improve safety and reduce equipment loss as major value drivers. In addition, both companies will help customers in collecting data and translating it into actionable insights – enabling customers to build smarter and more resilient machines. Also, the combined entity is dedicated to helping improve daily operations for contractors with increased operator safety, machine health and business optimizations.
“With a purpose as determined and noble as eliminating downtime, we know that working with our customers to apply new digital tools is absolutely necessary,” added Brogaard.
At their cores, both Trackunit and ZTR are in business to build solutions that propel the construction industry forward. Trackunit recently attracted a strategic investment from the British private equity company Hg to accelerate the company expansion, while ZTR has been transforming its business, and predicts growth through rising demand. Both Trackunit and ZTR have recently taken their first steps into, and secured traction in, the APAC region.
The construction industry is growing rapidly. It is experiencing accelerated investment in IoT capabilities with construction now one of the top five industries for investment growth. As a result, data proliferation is expected to grow exponentially as penetration of connected equipment continues beyond 2025 and machine-level data grows. Given these developments, Trackunit and ZTR IIoT are teaming up to better help their customers meet the changes that come with increasing digitalization of the construction industry.
“ZTR and Trackunit together represent an incredible next step that will enable us to become a truly global player in the market,” said Hassan. “I’m excited to roll up my sleeves and take an active part in the executive team. I look forward to venturing out on this shared mission - one in which I have no doubt Soeren Brogaard will capably lead.”
Going forward the business will be known as Trackunit, absorbing ZTR IIOT into its structure to extend the company's technology and market capabilities. The Rail division of ZTR will continue to operate independently and will maintain the ZTR name.
ZTR is based in London, Ontario. Trackunit has headquarters in Denmark, Chicago and Singapore.