SOUTH AFRICA: Imperial buys stake in MiX
South African vehicle tracking group MiX Telematics (MiX) has announced that diversified industrial holdings group Imperial has acquired a strategic stake of 25.4% in MiX.
MiX pointed to an existing business relationship with Imperial through Imperial's almost 250 new and used vehicle dealerships.
"These dealerships form an important distribution channel for MiX's vehicle tracking brand, Matrix.
"Several of MiX's other products in the fleet management arena, which are successfully marketed in South Africa and abroad, may also find applications in the Imperial group," it said.
Mix said a strategic shareholding would further strengthen the relationship between MiX and Imperial.