Homes and Property | Home Page

Trafficmaster on mobile phone track

13 April 2012

TRAFFICMASTER hopes to launch a mobile phone-based city route planner after buying navigation services specialist Yeoman for £2.15m in shares. The company has also begun selling anti-carjacking immobilisers.

Pre-tax profits last year were £550,000, the first for four years.

Trafficmaster finance director Nigel Bond said that following the Yeoman deal there are no more acquisitions in the pipeline.

'The big story for us is Smartnav,' said Bond. 'We are on course and on budget to hit our target this year which is 28,000 units for Smartnav,' he said.

Smartnav is Trafficmaster's car satellite navigation system.

Co-founder and chief executive David Martell is to leave in September but will not sell his 6% stake. He will be replaced by chief operating officer Stuart Berman.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Sign up you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy notice .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in

MORE ABOUT

Cars
GPS
Jaguar (car)
Mergers And Acquisitions
Satellite Technology
Selling
Transport