Innova Capital, the CEE-focused private equity house, has acquired a 75 per cent stake in Poland-based Inelo and OCRK, providers of work time management systems for the transportation industry.
The founders of Inelo and OCRK, Jakub Gieruszczak and Mirosław Stocerz respectively, will partially roll over their holdings into minority positions.
Innova said that the business benefits to from subscription-based revenues and is highly scalable.
In 2016, group revenues totalled PLN58m (€13.7m), with over 10,000 clients and 3,500 employees of the control authorities using its software.
At present, the software developed by Inelo is used by control authorities across 13 EU countries.