ABAX Acquires Swedish Telematics Companies

Gains 10,000 Subscribers, More than 150,000 Vehicles Monitored to Date

Fleet management system vendor ABAX has announced the acquisition of two Swedish companies: Accessor Sverige AB and Ctrack Sweden AB, its sixth and seventh acquisitions in Europe since 2014.

The acquisitions will add around 10,000 vehicles to ABAX’s existing subscription base, taking the total to more than 150,000.

ABAX Group, owned by Norvestor Equity AS, was launched in 2009. It currently operates in six European countries (Norway, Sweden, Denmark, Finland, United Kingdom, and the Netherlands).

It had a reported company revenue of NOK 359 million (€38.39M) in 2015. In 2014 the figure was NOK 239.8 million (€25.64M).

Tuesday, May 10th 2016

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