GMV makes a strategic investment in the US company Syncromatics
GMV and Syncromatics Corp, a leading U.S. Software as a Service (SaaS) provider of advanced bus tracking, CAD/AVL, and real-time passenger information solutions, are pleased to announce today that have signed an agreement for a strategic investment in Syncromatics.
As part of GMV’s growth and international expansion strategy, the U.S. market is considered top priority. Running a Space and ICT subsidiary in the U.S. since 2004, GMV had identified the U.S. public transportation market as one with great growth potential. In this context Syncromatics offers an excellent approach to this expanding market, enabling the company to grow rapidly in North America. Syncromatics has an outstanding track record and is highly appreciated by all its clients; moreover, it has a highly qualified management, commercial and technical team that knows the North American market very well; this gives GMV an excellent footing for future growth. Additionally it has a technological offer that is perfectly suited to the U.S. market and is complementary with GMV’s present portfolio. This agreement will also generate significant commercial, technological and operating synergies in the future, enhancing growth and value creation for GMV within the U.S. and elsewhere in the world.
Syncromatics, for its part, will benefit from GMV’s experience, complementary technologies and products and financial resources. With this strategic investment, Syncromatics will now have the resources to accelerate growth and become a market leader in the U.S. Founded in 2006, Syncromatics provides a range of advanced CAD/AVL, real-time passenger information and passenger counting solutions to more than 40 customers in the U.S., among them the Los Angeles Department of Transportation (LADOT).