News & Press
Groupe Egis invest €1 million in Galway based IT company Celtrak
07/12/2007
Galway-based IT company Celtrak has received €1 million investment from Groupe Egis, a leading European engineering company. A further €0.5 million has been invested in Celtrak by the existing shareholders, which includes the founders, ICC Software Partners, Enterprise Equity and Enterprise Ireland.
Celtrak is a provider of Intelligent Transport Systems (ITS) solutions to industry and public authorities across Europe, North America, the UK and Ireland where clients include Thermo King, Greenstar, Balfour Beatty and the National Roads Authority. ITS uses numerous technologies, often involving telecommunications, sensors and computers, to improve the operational performance, economics, security and safety of vehicles and roadways.
Pádraig Kenny, Chief Executive of Celtrak, said the investment by a leading global company in the field of transportation infrastructure and services would enable Celtrak to grow its business more rapidly in international markets. "The information revolution in transportation technology is here now. Because of the immediate financial benefits, the private sector has been quick to adopt the technology; however, the public sector, driven by challenging policy objectives is now beginning to use ITS platforms in most public transport initiatives". He continued: "It won't be long before all vehicles are connected to a global grid of smart services and intelligent infrastructure which will provide everyone with the information and services they need without hassle in an increasingly complex, networked world".
Joe McBreen and Frank Clancy, the co-founders of Celtrak, established the company in 2000. Based in Ballybrit in Galway, it employs 16 staff.
Note: With a presence on five continents and in more than 80 countries, Groupe Egis is a leading European engineering company in transportation infrastructure. It is also one of the world's leaders in public-private partnerships (PPP) and the largest French operator of motorways outside France.