Ituran Closes Acquisition of Road Track Holdings 

Ituran Location and Control Ltd. (NASDAQ: ITRN), announced that it has closed its previously announced acquisition of the majority of the shares of Road Track Holding S.L (Road Track), a telematics’ company operating primarily in the Latin American region.  As a result, Ituran will consolidate 81.3% of Road Track’s financial results into its own.

Eyal Sheratzky, CEO of Ituran, commented “We are very pleased to close our first major acquisition which is an important part of Ituran’s strategy for global growth and expansion. Road Track, as part of Ituran, is a significant force in Latin America with deep ties to the major car manufacturers. The combined business has approximately 1.8 million subscribers with a revenue run-rate approaching $400 million. We are excited to welcome the management and employees of Road Track to Ituran and we look forward to expanding our operations and enhancing shareholder value together.”