LONDON, UK: W.A.G payment solutions plc (Eurowag), a leading pan-European integrated payments & mobility platform focused on the Commercial Road Transportation industry (CRT), has completed the acquisition of substantially all of the assets of WebEye Telematics Zrt., a leading Fleet Management Solution provider in Central and Eastern Europe, from the Seller.
WebEye has an established presence in Europe with a total portfolio of more than 58,000 connected trucks. It generated revenues of EUR 16.4 million and normalised adjusted EBITDA of EUR 5.6 million in the year ended 31 December 2021, based on unaudited consolidated management accounts prepared under Hungarian GAAP. WebEye is led by Pál Németh, who has been instrumental in the growth of the company, and will continue to manage the acquired business and oversee its integration into Eurowag.
Martin Vohánka, CEO and Founder of Eurowag, said: “I am pleased we have completed this transaction, which expands the Group’s customer base, and provides WebEye’s customers with access to Eurowag’s unrivalled range of integrated end-to-end payment and mobility solutions. Data from a greater number of connected trucks will help us provide more accurate insights and enable the continual development of new and improved solutions to address customers’ needs. I appreciate the team’s hard work to deliver our first acquisition as a public company and look forward to working with Pál and the rest of the WebEye team going forward.”