Tracsis plc, a Leeds-based transport technology provider, has acquired Vesputi GmbH.

The bolt-on acquisition expands Tracsis’ digital ticketing capability and establishes a small operational foothold in the German public transport market.

Gross initial consideration for the deal is £5.1m and includes net cash of £700,000, funded from Tracsis’ existing cash resources, with additional consideration of up to £2.1m.