Verra completes Redflex buy

Verra Mobility says acquisition of Redflex Holdings will position it for ITS growth
By Adam Hill June 18, 2021 Read time: 1 min
Acquisition will position Verra to grow in the broader ITS market (© Phuttaphat Tipsana | Dreamstime.com)

Verra Mobility has completed its acquisition of Redflex Holdings.

The $113m deal was announced earlier this year, and will see the two companies continuing to trade under their current names.

Redflex now becomes a wholly-owned subsidiary of Verra Mobility but a statement said that "their associated products and branding will remain as they exist today until long-term plans are in place".

The acquisition will position Verra Mobility to grow in the broader ITS market.

CEO David Roberts said acquiring Redflex was "at the core of our company’s leadership strategy in the marketplace".

He said Verra has now "reached critical mass" in North America, Australia, New Zealand, Europe and the UK".

"The combination also expands our ability to develop and deploy a comprehensive suite of services for any size customer in the world.”

Redflex CEO Mark J. Talbot will join Verra Mobility’s executive leadership team as executive vice president to head the company's government solutions business.

 

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