Yahoo Finance Modaxo and Cittati Announce Acquisition of Auttran in Brazil
TORONTO, June 02, 2022 (GLOBE NEWSWIRE) -- Modaxo Inc. (“Modaxo”), a global technology organization focused on moving the world’s people, along with its company Cittati, today announced the acquisition of Auttran, a charter and mobility solutions company based in Brazil.
Founded in 1996, Auttran offers a number of products and services to the public transport, corporate, and school transport markets. With the acquisition, the Auttran operation becomes a brand within Cittati focused on new segments.
“Auttran caught our attention because it was in a sector where Cittati already had presence, but without the same degree of specialization and in a market that has been changing a lot. We now have another differentiated solution in our portfolio, meeting our current customers' requests and which also allows us to operate in new markets and countries,” said Kleber Kikunaga, CEO of Cittati.
For Modaxo, it represents another step in its strategy for Latin America.
“The acquisition of Auttran enables us to increase our presence in Latin America and enter a segment that we believe is very promising.”, said Rod Jones, Portfolio Leader for Americas at Modaxo. “There are many possibilities and synergies with Cittati and we are using the best of both companies to reinforce our vocation in mobility.”
Auttran maintains its brand and its team, while benefiting from the investment, methodologies, and best practices of Cittati and Modaxo.
“We already have the best charter market product and now, we can count on a larger structure to accelerate our growth and continue developing innovative solutions” said Caio Shimada, Auttran´s founder, which continues in the business as Senior Consultant.
Modaxo has been investing in the Latin American market since 2018. Today’s announcement represents the company’s third acquisition in the area. Modaxo continues to invest in Latin America through acquisitions, product innovation, and people. The company most recently welcomed Laurent Memvielle to the organization to help oversee Modaxo’s efforts in Latin America at a local level.
About Cittati
Cittati is a company that works creatively and restlessly to offer the best solutions for urban mobility, impacting the daily lives of millions of people who use a bus. Market leader in fleet management in public transport, monitoring more than 30,000 buses in 135 cities. Learn more at cittati.com.br
About Modaxo
Modaxo is a global technology organization passionate about moving the world’s people. Working both together and independently, our collective of businesses are committed to delivering software and technology solutions that help connect people with the places they need to go for work, family, and everyday life. Learn more at Modaxo.com.
Contact Information:
Kim Emmerson, CMO
Modaxo
Tel: +1 416 473 6302
kim.emmerson@modaxo.com
