Business
Completion of Acquisitions
Completion of Acquisitions.
About this update from Tracsis Plc
[{"type":"text","content":"\n \nRNS Number : 5566D Tracsis PLC 01 February 2018 \n\nTracsis plc\n(\"Tracsis\" or the \"Group\")\n \nCompletion of Acquisitions\n \nTracsis plc, a leading provider of software and services for the traffic data and transportation industry is pleased to announce that it has acquired the entire issued share capital of Travel Compensation Services Limited ('TCS'), Delay Repay Sniper Limited ('DRS') and S Dalby Consulting Limited (the holding company of TCS).\n \nTCS is a software provider of enterprise delay repay solutions to the UK Rail Industry. The business has developed novel technology that allows train operators to automatically process large volumes of consumer claims arising from rail delays and in doing so lower the transactional costs involved whilst speeding up response times and helping eliminate fraud. The benefits to the rail industry are significant and in a short space of time TCS has already secured several major TOC customers. \n \nDRS is a consumer facing web portal (www.delayrepaysniper.com) that enables rail passengers to quickly and easily submit valid claims under the delay repay scheme to rail operators. The business operates a subscription service model and is highly relevant to regular rail travellers and commuters who are often delayed many times per month and wish to forego the time and effort involved in submitting multiple individual claims. \n \nThe UK delay repay market is increasingly topical to transport groups, rail passengers and regulatory bodies and there is increasing consumer awareness set against a backdrop of rising rail fares. The delay repay scheme works to allow rail passengers to reclaim up to 100% of ticket values from a train operator depending on how delayed a service is. In recent years the back office burden on transport operators is significant as current methods for managing claims are largely manual. This has inevitably led to slow response times, incorrect refunds, and a material exposure to consumer fraud. \n \nThe TCS and DRS offerings are highly complementary to Tracsis' rail offering and will bring substantial cost benefits to our TOC client base whilst also improving customer satisfaction. The Directors of Tracsis believe this market is set for significant growth in the years...