TruckPag acquires control of telematics services provider, 3SAT Tecnologia
By Jose Secco - 11th July 2023
Kássio Seefeld, CEO of TruckPag
Brazil – A relatively new finance services company offering digital card services for fuel and road toll payments, TruckPag Meios de Pagamento S/A of Cascavel, Paraná State, in April extended its ownership of Londrina-based fleet telematics and management company, 3SAT Tecnologia, by acquiring another 15% in the company to become the majority (55%) shareholder of the company; since June last year, it had owned 40% of the company's shares.
With around 350 customers in its portfolio, 3SAT grew 77% in the last year and jumped from 4,500 to almost 8,000 vehicles being tracked in the consolidated period between the first quarter of 2022 and the same period of this year. The company, which had 6,200 tracking systems installed in the full year to December 2022, expects to more than double its installation number in 2023 to some 15,000 vehicles and double its revenues.
