GMV Buys Controlling Interest in Masisconvi

Spanish technology conglomerate GMV has purchased a 66 percent controlling interest in Masisconvi S.A., another Spanish company that specializes in design and manufacture of electronic fare-collection systems.

This purchase will allow GMV to incorporate Masisconvi’s wide range of electronic fare-collection systems into its own range of products in the passenger transport telematics area, where it has traditionally concentrated on GPS-based fleet management systems. This means that GMV can now offer fleet operating companies a complete, across-the-board coverage of all their possible needs in the field of information systems and communications, the company says.

There is a growing trend of merging fleet management systems and fare-collection systems, according to GMV. Its takeover of Masisconvi will thus enable it to give a better service to its long-standing customers and develop lower-cost systems with improved service features to break into emerging markets, the company says.

Masisconvi already has a strong foothold in some of these emerging markets, such as South America and North Africa, so its integration into GMV will not only boost its growth prospects but also improve the joint market position of both companies in the transport telematics market, according to GMV.