With this move Addsecure enhances its asset management capabilities in Europe and its expertise within telematics and tracking solutions. The company also expands its footprint into Switzerland and Austria, which further strengthens Addsecure’s position as the leading provider of fleet and transport management solutions in Europe.

"We are excited to welcome Lostnfound to the Addsecure family. They join a like-minded organisation. Together, we will take our customers' logistics operations to the next level, streamlining operations and optimising fleets utilisation. This is good news for our customers as it helps them to drive their business forward,” says Claes Ödman, President of Smart Transport at Addsecure.

For Lostnfound the acquisition is an opportunity to offer customers a wider portfolio of pan-European IoT connectivity solutions adapted to their needs.

Going forward, customers across Europe will benefit from smart and secure IoT solutions like Roadview, a video telematics solution combining the power of vehicle telematics and camera technology; Logic TMS, an end-to-end transport management cloud-based platform that help carriers level up all core business operations; and Tachotoweb, a platform for storage and analysis of tachograph files, both from driver and vehicle data.

“By joining Addsecure, there is a unique opportunity to build on the great achievements we are making in working with our customers. This allows us to expand our portfolio and provide outstanding solutions that truly address the challenges customers face today and tomorrow," says Daniel Thommen, CEO of Lostnfound.

In December 2021, Lostnfound was awarded the German Telematics Prize 2022 in the category Asset Management. The award is known as one of the toughest and most realistic stress tests for transport telematics systems.

Lostnfound will continue to operate under its existing brand and will be part of Addsecure’s business unit Smart Transport.

Closing of the acquisition follows the intent announcement on November 23, 2021. Terms of the transaction were not disclosed.