Tracsis, a provider of software and services for the rail, traffic data and wider transport industries, completed the acquisition of iBlocks, a UK based software company that specialises in the provision of smart ticketing solutions, automated delay repay and the development of mission critical back office systems, for £24.2m. "We are delighted to have come together with iBlocks, a business we have known for a number of years now. We believe the unique technology offering that iBlocks has developed along with long established client relationships will open up an exciting new area of opportunity for Tracsis. The smart/account based ticketing market in particular is an area of the rail industry that will see significant future industry change and growth. We welcome the iBlocks management team and all staff to the Tracsis Group, and look forward to helping them achieve their growth aspirations as part of a larger organisation," Chris Barnes, Tracsis CEO.