Tracsis, a provider of software and services for the traffic data and transportation industry, has acquired Travel Compensation Services (TCS), Delay Repay Sniper (DRS) and S Dalby Consulting (the holding company of TCS).
TCS is a software provider of enterprise delay repay solutions to the UK rail industry. The business has developed technology that allows train operators to automatically process large volumes of consumer claims arising from rail delays and in doing so lower the transactional costs involved whilst speeding up response times and helping eliminate fraud.
DRS is a consumer facing web portal that enables rail passengers to submit valid claims under the delay repay scheme to rail operators.
Tracsis said the TCS and DRS offerings are highly complementary to its rail offering and will bring substantial cost benefits to its TOC client base while also improving customer satisfaction.
Based in Chelmsford, TCS and DRS employ nine members of staff, all of whom will remain with the business post transaction. In the year ended 30 September 2017, TCS and DRS generated revenue of £0.7m and a profit before tax of £0.3m. Under the terms of the acquisition there is a three year earn out period.
At 8:17am: (LON:TRCS) Tracsis PLC share price was 0p at 525p