Bregal Milestone, a leading European software growth private equity firm, has recently shared that, since announcing its strategic growth investment in Swedish global provider of mission-critical public transportation software Ridango AS last month, it has also agreed to acquire uTrack Software Solutions (“uTrack”).
Founded in 2011 by Eamonn Hughes and Conor Gildea, uTrack is a Dublin-headquartered software company providing a public transport data platform with a real-time analysis and predictive engine that feeds a suite of software services that annually supports nearly 3 billion passengers, over 5 million app users, 150,000+ drivers and 73,000+ vehicles.
uTrack‘s clients include some of the largest urban bus, intercity coach, and school transport providers across Ireland, the UK, and North America. The company’s suite of SaaS products: Origin, Unity & Rygo – enables operational excellence across a public transport business, mobile tools for a predominantly remote frontline workforce, and a transformative customer experience for passengers.
The acquisition of uTrack will aim to strengthen Ridango’s offerings by increasing capabilities for long-distance and school transport operators, expanding its presence in Western Europe and the US, and broadening its AVL product offering, particularly for the student and driver customer groups. The combined expertise of Ridango and uTrack will help further accelerate innovation with real-time connectivity, data-driven insights, and route optimisation, driving greater efficiency and improved experiences for both customers and operators.
Cyrus Shey, Managing Partner and Co-Founder at Bregal Milestone, commented, “We identified uTrack as a compelling strategic fit for Ridango given uTrack’s software platform, loyal and recurring customer base of market leading institutions, and complementary geographic presence, which made it a natural fit for the Ridango ecosystem. We’re excited to support this combination as it unlocks meaningful synergies and accelerates growth across both platforms.”
Erki Lipre, Founder and CEO at Ridango, said, “The acquisition of uTrack represents a strategic leap forward for Ridango. By combining our strengths and complementary services, we will deepen Ridango’s AVL and analytics capabilities and significantly strengthen our position in key global markets. We are truly excited to welcome Eamonn, Conor, and the entire uTrack team to the Ridango family.” Co-founders of uTrack, Eamonn Hughes and Conor Gildea, added, “Joining forces with Ridango is an exciting milestone for uTrack. From day one, our mission has been to enhance the passenger and operator experience through technology. Partnering with Ridango allows us to accelerate that mission and scale our impact across Europe and North America while continuing to innovate with a shared vision for smarter, more sustainable transit.” The terms of the uTrack transaction were not disclosed and are conditional upon the completion of the Ridango transaction.
