CYBIT, the provider of telematics and online services, has acquired a number of business assets and intellectual property rights of Fleetstar Information Systems for £1.5 million from Trafficmaster, which launched the subsidiary division 18 months ago.

The assets acquired include Fleetstar's existing customer base, the exclusive licence to its online software, the subsidiary's order book and 'work in process', website and some key staff.

Richard Horsman, chief executive officer of CybIT said: 'There are compelling technology and business synergies between the Fleetstar service and CybIT advanced telematics solutions, online services and 24/7 bureau operation and our business will continue to focus on delivering measurable return on investment for our growing UK customer base.'

David Martell, Trafficmaster's chief executive officer, said: 'This deal enables Trafficmaster to concentrate on its core business of the collection and distribution of traffic information and, at the same time, to realise the value from our investment in the fleet management market.'