GTCR acquires Lytx

Video telematics provider Lytx, Inc. has signed an agreement to be acquired by Chicago-based private equity firm GTCR, the company said.

The deal, expected to close in the first quarter, is an all-cash transaction of more than USD500 million that will help power the next chapter in Lytx´s growth as the innovator and leader of video telematics and safety services for commercial and public sector transportation.

Lytx created the category in 1998, and has since developed a market-leading range of subscription-based services that help improve the safe fleet driving behavior for more than 1,400 clients worldwide.

Its flagship service offering, the DriveCam® program, combines the intelligent video capture of driving events, precise and personalized data-backed coaching insights, fleet tracking, fuel management and more to help improve driver behaviors, protect and save lives, and reduce operational expenses.

Rothschild served as lead financial advisor to Lytx, and Morgan Stanley also served as financial advisor.

Lytx helps detect and address distracted and drowsy driving, both in real time and over time. It is privately held and headquartered in San Diego.

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries.