AddSecure, a leading European provider of premium solutions for secure data and critical communications, today announced the acquisition of Navkonzept, a well-known German aftermarket telematics supplier of Fleet Management solutions, to strengthen its geographical footprint and further realize its strategy of becoming a leading provider of Fleet and Transport Management solutions in Europe.
Through the acquisition, AddSecure Smart Transport reinforces its position in the Transport and Logistics market in Germany, whilst bringing in an established team, and a well-known and market-adopted offering to its Smart Transport portfolio.
The two companies’ joint mission is to bring smart, connected devices to fleet owners in Germany, with the objective to become the preferred FMS and TMS aftermarket supplier in Germany.
"It is with great pleasure that we are welcoming our Navkonzept colleagues to AddSecure Smart Transport. This acquisition strengthens our presence in Germany and by combining portfolios, Navkonzept and Addsecure embrace a wider and stronger go-to-market strategy”, said Johan Frilund, President of AddSecure Smart Transport.
Through the acquisition, AddSecure’s Smart Transport division’s revenues will increase to €60m and the entire group’s revenues to €150m. The deal will also add 20 000 billable connections to AddSecure Smart Transport’s existing installed base of 200 000, totaling 220 000 units.
"This is our second acquisition within Smart Transport this year and further reinforces our commitment to international expansion. Germany is an important market for AddSecure and our European growth, and one of the largest countries in terms of heavy commercial vehicles. We look forward to further investing in Smart Transport and welcoming Navkonzept to AddSecure”, said Stefan Albertsson, CEO of AddSecure.
“I am convinced that AddSecure will provide Navkonzept with the expertise and resources needed for our future development, particularly in terms of marketing, commercial and product development capabilities. This transaction will benefit German customers and employees, who will be joining a major player in the transport space," said Jochen Linden, Managing Director of Navkonzept.
Navkonzept will be part of AddSecure, and will be integrated with AddSecure Smart Transport within the coming year. Navkonzept’s Managing Directors, Jochen Linden and Hans-Jörg Nolden, will join the Smart Transport Management Team.
For more information, please contact:
Kristina Grandin, Corporate Marketing Manager, AddSecure
Mobile: +46 70 689 52 08, kristina.grandinaddsecurecom
Nicole Nolden, PR Manager
Mobile: +49 178 7803815, n.noldennavkonzeptde
Navkonzept is a German software company that develops modern telematics systems for locating and evaluating all kinds of mobile objects. Since 2004, the company has specialized in vehicle telematics for the transport and logistics industry. Navkonzept offer their customers all services, from development and installation to service and IT administration, from a single source.
In addition to vehicle location, the portfolio includes a large number of products and modules that are tailored to the needs of the market. The company also offers a variety of ready-made interfaces to other applications.
The customers come primarily from the transport and logistics industries, construction, as well as increasingly from the areas of vehicle rental as well as assembly and courier services and other services.
AddSecure is a leading European provider of premium solutions for secure data and critical communications. The company serves over 50 000 business customers and partners around Europe with secure communications and solutions that help customers safeguard their life- and business-critical applications. This helps save lives, protect property and vital societal functions, and drive business.
AddSecure serves customers in the security and safety industry, in building security and automation, in digital care, in transport and logistics, in utilities and smart cities, and more. Customers are provided with solutions within Smart Alarms, Smart Care, Smart Grids, Smart Rescue, and Smart Transport.
The company, founded in the early 1970s, today employs more than 650 staff in 15 countries. AddSecure is headquartered in Sweden, and has regional offices as well as a network of distributors around Europe. AddSecure is majority-owned by Castik Capital, a European private equity fund with a long-term approach to value creation, founded in 2014.