Milford Active Growth Fund invests up to $10 million in telematics company Coretex

Thu, 29 Oct 2015

By Fiona Rotherham Oct. 29 (BusinessDesk) - Milford Asset Management’s Active Growth Fund has invested $6 million and underwritten a further $4 million if required in Coretex, a telematics company newly-formed by the merger of International Telematics Holdings and Imarda. The merger of the two Kiwi fleet management technology companies was announced in June and they have been working together for the past couple of months while shareholder approval and external investment was finalised for the deal. Coretex chief executive Selwyn Pelle...

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