Telematics Consolidates in Europe as ABAX Continues Acquisitions Streak

The Norwegian company ABAX  has announced the acquisitions of Accessor Sverige AB and Ctrack Sverige AB, strengthening its position as one of the biggest telematics companies in Europe.

The Norwegian telematics company has since 2014, completed seven acquisitions. Its latest acquisitions will add approximately 10,000 vehicles under subscription to ABAX Group’s existing base and bring the base to a total of 155,000 vehicles.

Since ABAX was founded in 2009, they have experienced high growth rates. The Norwegian company reports a growth rate for 2015 of 50 percent, with 40 percent being organic. The reported turnover for 2015 is 38,56 million euros with an EBITDA of 5,45 million euros.

Category: Connected Fleet News, General Update