GMV completes its Syncromatics takeover

GMV has now completed its takeover of Syncromatics, a technology company specializing in Software as a Service (SaaS) or Software in the Cloud solutions for the public intelligent transportation systems (ITS) market. This agreement forms part of the investment initiated by GMV in 2015, a North-American market investment strategy that is now one of GMV’s chief growth levers in the sector.

Syncromatics’s technology range, complementing GMV’s, is adapted to the North American market; right from the start the alliance of both companies has enabled them to tap into significant synergies of a commercial, technological and operational nature. This has boosted Syncromatics’ growth and created added value for GMV. As fruit of these synergies Syncromatics is now on the point of integrating into its USA solutions the new family of equipment for advanced fleet-management systems and the built-in ticketing systems, in which GMV has been investing heavily for a year and a half and are now about to hit the market.

Since the first takeover phase was formalized in 2015, Syncromatics has tripled in size, even performing new acquisitions itself, such as its 2016 takeover of the demand response technology company Mobilitat Works Inc. As of now Syncromatics is providing its intelligent transportation solutions to over 130 operators and public-transport authorities in 26 different states of the USA. Some of its flagship and most recent clients are the City of Los Angeles Department of Transportation (LADOT), Los Angeles Metropolitan Transportation Authority (LA METRO), MV Transportation, Ventura County in California, Victor Valley Transit Association in California, and the city of Maui in Hawaii, among others.

GMV, for its part, is national ITS leader for urban public transport and railways; its systems have by now been set up in over 34,000 vehicles from more than 30 countries. Moreover, GMV’s fare-collection or ticketing systems have been implemented in over 275 national projects, with standout clients like Transports Metropolitans de Barcelona (TMB), ALSA, AVANZA, Vectalia, RENFE, ALSTOM and Talgo. On an international level GMV’s ITSs have been taken up in over 11 countries, pride of place going to Australia, Chile, Morocco, Malaysia, Mexico, Poland, Sweden and Uruguay. The company is now putting the finishing touches to the successful modernization of Cyprus’s public-transport systems, a project involving nearly 400 ticket-vending machines in Santiago de Chile’s metro. Likewise it is currently completing implementation of a fleet-management system for Sydney’s new light rail network.

By completing the 100% takeover of the Los Angeles-based technology company, GMV boosts its expansion capacity within the USA and cements its position in the worldwide ITS market.