"At Automile we have an obsession with constant product development to exceed customer expectations. Together with Automile, we will be at the forefront of innovation with the most modern, open, and advanced telematics platform", commented Morten Strand, Group CEO of ABAX.Ĭreating 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. "The acquisition is an important step for us to further strengthen our operations and our position in the Nordics, Europe, and globally. ![]() The combination will deliver innovation and value-added connectivity services to the customers of both companies. Through the acquisition, Automile customers will enhance their current solutions with full access to the ABAX global IoT network, with unprecedented geographic coverage. Closing is expectedĮnhanced Solutions: Innovation on the Foundation of the Most Modern, Open Telematics PlatformĪutomile has 87,000 subscribers to its core service, with customers in Sweden, Norway, the rest of Europe, and the U.S. Together they will form a leading Nordic SaaS telematics company with over 350.000 subscriptions in Europe and the U.S. Jens Nylander, CEO and Co-founder of AutomileĪBAX and Automile today announced they have entered into a definitive agreement under which ABAX Sweden AB will acquire Automile Holding AB, a Nordic leader in telematics and internet of things (IoT) services. The company made about SEK 600M ($60M) in 2019 and is owned by Investcorp, a Bahrain-based private equity investment firm which acquired it in 2017.News Item: ABAX Acquires Automile to Strengthen its Telematics Platform The company offers fleet tracking, logging, fleet management and activity tracking services to small and medium-sized businesses based in Sweden, Norway, the rest of Europe and the USA and which generated sales of about SEK 200M ($20M) in 2019.Īutomile raised almost $50M in capital investment from investors including Insight Ventures, Dawn Capital, Point Nine Capital and Salesforce Ventures.Ībax, led by CEO Morten Strand, is one of Europe's fastest growing companies in the telematics industry, and a major player in the sale and development of electronic driving books for vocational and private cars. ![]() The acquisition is expected to be completed by the end of October 2020.Īutomile, founded in 2013 by Jens Nylander (CEO), Hervé Soursou, Jacob Pontén and Felix Rosén, developed a mobile-first, design-first fleet and field service management solution in use by over 10,000 companies and 87,000 subscribers. The two parties will form a leading Nordic SaaS company providing telematics and IoT services with over 350,000 subscriptions in Europe and the USA. The financial details of the transaction remained undisclosed. Abax, an Oslo, Norway-based developer of vehicle monitoring software, announced that it entered into an agreement for acquiring the Swedish provider of telematics and IoT solutions Automile.
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