Friday, February 27, 2015

Trax Technologies Acquired By Strattam Capital

Scottsdale, Arizona-based software-as-a-service developer Trax Technologies, which develops software for the logistics market, has been acquired by Strattam Capital, the two said Thursday afternoon. Financial details of the private equity acquisition were not anounced. Trax Technologies said that Strattam will take a majority stake in the company, and also provide an additional, $10M in growth capital to the company. Strattam said the investment comes in partnership with Trax's current management team. Trax will continue to be led by founder and CEO J. Scott Nelson. Trax was previously owned by Capital Southwest and River Cities Capital Fund.