We are pleased to announce that Compass Informatics has become part of the Tracsis group of companies as of January 16th 2019. This positive news creates a substantial opportunity for growth of Compass over the coming years and creates great opportunities for the team. We hope that by developing the company capabilities and skills that there will be real benefits to the existing and highly respected clients of Compass.
There are no changes to Compass Informatics Limited and Compass Informatics UK Limited as Ireland and UK registered companies. There are no name changes or team changes, with Gearóid Ó Riain remaining in his managing director role. The tone and culture of Compass and Tracsis are similar and complementary – skilled, hardworking, honest and straightforward is perhaps a good summary. The company continued to take on new staff members even as matters were being concluded this week, and it is this strengthening of the team, and the opportunity to work with new colleagues and clients is what we are now looking forward to.
It is notable that the acquisition of Compass is the first non-UK acquisition made by Tracsis – a vote of confidence in itself, with the acquisition mitigating many of the risks associated with EU/UK further relationship changes. Compass is highly complementary to the Traffic & Data Services division of Tracsis whilst also bringing potential benefit and cross-sell potential to Tracsis’ existing transport clients. Compass has a busy and positive year ahead with on-going delivery of services and systems to many organisations across the transportation, environment and natural resources, planning and heritage sectors.
Yours,
Gearóid Ó Riain
John McArthur, Chief Executive Officer of Tracsis plc, commented:
“We have known the Compass team for a number of years now and are delighted to have completed this transaction which is a natural fit for our Traffic & Data Services division. Coming together with Compass will strengthen the product and service offerings to our client base in the UK and also benefit those existing clients retained by Compass in Ireland. This is a further significant milestone in our strategy of improving our data service offering. We welcome the whole Compass team to Tracsis, and look forward to future successes together.”
Gearoid O’Riain, Managing Director of Compass, commented:
“We are thrilled to have completed this transaction and to be joining forces with Tracsis. Compass has an established position with our domestic Irish market and our highly respected clients and has aspirations to further grow our presence in the UK market – which provides a larger market opportunity. Working as part of the Tracsis Group allows us to make this jump and we look forward to the significant growth opportunities that lie ahead.”