Trafficmaster (LON:TFC) , the traffic technology company whose devices tell drivers of potential hold-ups, has confirmed that it is in talks over a possible takeover. Trafficmaster’s shares have risen from 37.5p to 45p this week and there has been speculation in the press about a possible deal. However, the company insisted that there was no certainty that any offer would be forthcoming.

In March, Trafficmaster revealed a 4% rise in full year sales to £57.5 million with pre-tax profits up 14% to £5.1 million. At the time, Alan McWalter, the company’s chairman said it was continuing to make strong progress despite challenging market conditions. He added that the revenue and profitability had improved as the recurring subscription-based nature of the business strengthened.

In January Trafficmaster acquired Fleet Management Solutions, Inc, a fast-growing American company that provides satellite-based tracking solutions for remote-based mobile assets.

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