Lytx Acquired For $500M In Private Equity Acquisition

San Diego-based automotive telematics provider Lytx has been acquired by private equity investor GTCR, in a deal worth more than $500M in cash, the two said this morning. Lytx was founded in 1998, and offers up a video-based, driver safety and telematics system used for tracking driving fleets, encouraging safer driving, and capturing accidents and other events on cameras for fleet managers. Lytx--which was originally named DriveCam--was most recently in the hands of private equity investor Welsh Carson Anderson & Stowe.