Penny & Giles Ltd. was originally formed during the late 1950s by Professor W. A. Penny and Mr. J. Giles with the intention of providing the aerospace and military sectors with design and manufacture of specialist position sensors and data recording equipment. The company prospered, forming subsidiary companies as new products and markets emerged, and during the 1980s became listed on the London stock exchange. The subsidiary company, Penny & Giles Computer Products Ltd was formed in 1986, operating as a wholly owned part of Penny & Giles International plc whose purpose was the design and manufacture of niche market track balls and computer input devices for the medical, military and industrial sectors.

During 1991 the Penny & Giles group of companies was acquired by the UK group - Spirent plc. In response to the growth and diversity of the Spirent group and the need for further consolidation, Penny & Giles Computer Products then merged to become part of Devlin Electronics Ltd, another Spirent company. After a further period of rapid growth and change, the company relocated from Christchurch to the neighbouring town of Ringwood in the south of England taking up residence in new custom designed building located with good road, rail and air-links to the rest of the world. In 2002 an approach was made by one of Penny & Giles Computer Product's major customers with a view to acquisition and finally resulting in new ownership by the American Esterline Technology Group of predominantly US companies under the continued supervision of the UK management team. A growing commitment to civil aerospace and medical markets lead to full ISO9001-2000 quality listing along with major customer approvals in all major counties and market sectors.

From October 2003 the old Penny & Giles name was replaced by TRAXSYS a new brand name that better describes our growing products and services, while at the same time underwriting a major milestone in our history and transition to a truly global supplier of cursor control products. As market leaders in the supply of high end track balls to all major market sectors the TRAXSYS brand serves us as we respond and manage a further phase of planned expansion supported by Esterline.