Tripmaster Corp has announced a substantial capital investment by CDP Capital, a subsidiary of the Caisse de dépôt et placement du Québec (CDPQ), the largest asset management firm in Canada.
Richard M Geib, Tripmaster's chief executive officer, said, “While Tripmaster just finished its 2003 fiscal year with record results, this investment from CDPQ will help fund Tripmaster's extensive research and development efforts and will strengthen the company's position to execute its strategy for substantial future growth. Additionally, the affiliation with CDPQ will allow Tripmaster to pursue other opportunities within the CDPQ investment portfolio and elsewhere.”
Tripmaster also has reached an agreement to co-develop Tripmaster software products with another CDPQ-funded company, FleetMind Solutions of Montreal, Quebec. Fleet Mind offers onboard computing and communications systems to fleets in Canada with their FleetLink product.