Morten Strand, Group CEO of ABAX, said: “Our acquisition demonstrates confidence in the growth potential of the new combined entity, and we look forward to working together to accelerate our growth ambitions in the years to come. The combination creates the second largest telematics player in Europe by the number of subscriptions and enabling ABAX to offer new and existing customers an increasing array of value-added connectivity services with further geographic coverage.ĭaniel Lopez-Cruz, Investcorp’s Head of Private Equity, Europe, said: “We backed ABAX to acquire Automile as the transaction enhances ABAX’s leadership position in the highly fragmented and growing telematics market, which we believe remains underpenetrated despite increased rates of adoption.” The transaction positions the combined group as a global telematics leader with more than 360,000 subscriptions. Daily Tribune – Investcorp, a leading global provider and manager of alternative investment products, yesterday announced that its portfolio company ABAX, a telematics solutions provider in the Nordics and one of the largest in Europe, has acquired Automile, a Nordic-based provider of telematics and internet of things (IoT) services. The company headquarters are in Stockholm, Sweden. Simply plug Automile Box, a smart innovative device into your. Some of Automile´s investors are Insight Venture Partners, SaaStr, Dawn Capital, and Point Nine Capital. Automile is the easiest and most affordable GPS tracking and fleet management solution. Trusted with over 10,000 businesses and 87,000 subscribers Automile offers fleet tracking, mileage logging, fleet management, and asset tracking services to small- medium and large businesses. The information was submitted for publication, with contact persons set out above, at 14:30 CEST on 13 October 2020.Īutomile is a leading Nordic SaaS telematics and IoT company having offices in Sweden, Norway, and the US. This information is information that ABAX Group AS is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. Sandra Lindberg, Director of Corporate Communications, ABAX Jens Nylander, CEO and Co-founder, Automile With a significantly larger combined subscription base, we can build a global telematics leader with scale economies and an attractive value proposition to our customers, stated Jens Nylander. Together with ABAX, we share the same objectives of creating shareholder and stakeholder value. My goal has always been to define Automile by high growth, good gross margins and profitability. ABAX is the second-largest telematics company and one of the. Aligned Goals: Building a Global Telematics Leader Through Profitable GrowthĪfter many years of extensive investments in innovation and new services, Automile is today a fast-growing and profitable SaaS telematics company. Tracking Vehicles, Equipment and Tools with GPS systems. With ABAX, we can now deliver an even broader offer”, said Jens Nylander, CEO and Co-founder of Automile. “At Automile we have an obsession with constant product development to exceed customer expectations. Creating Customer Value: Attractive Value Proposition of Combined OfferingsĮxisiting customers as well as new customers will have access to the full product range from ABAX and Automile.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |