The American smart mobility company Verra Holdings has bought the global enforcement business Redflex in a deal which it says positions it for “solid international growth moving forward”.
Redflex will now operate as a wholly-owned subsidiary of Verra Mobility. They say that for existing customers, the transition will be virtually seamless, with both Verra Mobility and Redflex continuing to operate under their current names, and their associated products and branding will remain as they exist today until long-term plans are in place. “As a result, customers of both companies can expect to be serviced with the same commitment and reliability they’ve come to expect,” they say in a statement.
The companies say their combined advanced technology, international reach, financial resources, and deep subject matter expertise immediately positions Verra Mobility as a global leader in smart transportation.
“The acquisition will set a new benchmark for jurisdictions wanting to drive the future of smart transportation,” said David Roberts, CEO of Verra Mobility. “We couldn’t be more excited to welcome Redflex into the Verra Mobility family. This acquisition is at the core of our Company’s leadership strategy in the marketplace. With a broad portfolio of leading intelligent transportation solutions, Verra Mobility has now reached critical mass in North America, Australia, New Zealand, Europe, and the United Kingdom. The combination also expands our ability to develop and deploy a comprehensive suite of services for any size customer in the world.”
Redflex CEO Mark Talbot will join Verra Mobility’s executive leadership team as Executive Vice President to head the Company’s Government Solutions business segment.
The value of the deal has not been disclosed.
(Picture – Redflex)