ABAX acquires Automile to build ‘global telematics leader’
Telematics giant ABAX is to acquire Automile to expand both firms’ services and operations globally.
Automile provides SaaS telematics, including real-time GPS fleet and asset tracking, speeding, routing, dispatching and driving behaviour tools. It’s headquartered in the US but also has customers in Sweden, Norway and the rest of Europe. The business has some 87,000 subscribers to its core service.
Terms of the deal have not been disclosed but the acquisition will enable Automile customers to enhance their current solutions with full access to the ABAX global IoT network. ABAX customers will also benefit from the development of new initiatives and value-added connectivity services.
Morten Strand, Group CEO of ABAX, said: “The acquisition is an important step for us to further strengthen our operations and our position in the Nordics, Europe, and globally. Together with Automile, we will be at the forefront of innovation with the most modern, open, and advanced telematics platform.”
Under the deal, both existing customers as well as new customers will have access to the full product range from ABAX and Automile.
“At Automile we have an obsession with constant product development to exceed customer expectations. With ABAX,we can now deliver an even broader offer,” commented Jens Nylander, CEO and co-founder of Automile.
“My goal has always been to define Automile by high growth, good gross margins and profitability. Together with ABAX, we share the same objectives of creating shareholder and stakeholder value. 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,” added Nylander.