Automile login3/2/2023 ![]() Together with Automile, we will be at the forefront of innovation with the most modern, open, and advanced telematics platform. 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. ![]() ABAX has delivered consistent growth and we believe that the company is well-positioned for the future with a proven acquisition playbook in an expanding addressable market.” This combination creates the second largest telematics player in Europe by the number of subscriptions and will enable ABAX to offer new and existing customers a wider array of value-added connectivity services with greater 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 addition of Automile strengthens ABAX’s growth platform, bringing together a highly complementary portfolio of telematics solutions that will leverage ABAX’s global IoT network. The transaction has closed and positions the combined group as a global telematics leader with more than 360,000 subscriptions. a leading global provider and manager of alternative investment products, today announced that its portfolio company ABAX (“ABAX”), the #1 telematics solutions provider in the Nordics and one of the largest in Europe, has acquired Automile (“Automile”), a Nordic based provider of telematics and internet of things (IoT) services. The company headquarters are in Stockholm, Sweden. Some of Automile´s investors are Insight Venture Partners, SaaStr, Dawn Capital, and Point Nine Capital. 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. 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. ![]() 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.
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