Through the acquisition, Addsecure Smart Transport reinforces its position in the Transport and Logistics market in Germany, whilst bringing in an established team, and a well-known and market-adopted offering to its Smart Transport portfolio.

The two companies’ joint mission is to bring smart, connected devices to fleet owners in Germany, with the objective to become the preferred FMS and TMS aftermarket supplier in Germany.

"It is with great pleasure that we are welcoming our Navkonzept colleagues to Addsecure Smart Transport. This acquisition strengthens our presence in Germany and by combining portfolios, Navkonzept and Addsecure embrace a wider and stronger go-to-market strategy”, said Johan Frilund, President of Addsecure Smart Transport.

Through the acquisition, Addsecure’s Smart Transport division’s revenues will increase to €60m and the entire group’s revenues to €150m. The deal will also add 20 000 billable connections to Addsecure Smart Transport’s existing installed base of 200 000, totaling 220 000 units.

"This is our second acquisition within Smart Transport this year and further reinforces our commitment to international expansion. Germany is an important market for Addsecure and our European growth, and one of the largest countries in terms of heavy commercial vehicles. We look forward to further investing in Smart Transport and welcoming Navkonzept to Addsecure”, said Stefan Albertsson, CEO of Addsecure.

“I am convinced that Addsecure will provide Navkonzept with the expertise and resources needed for our future development, particularly in terms of marketing, commercial and product development capabilities. This transaction will benefit German customers and employees, who will be joining a major player in the transport space," said Jochen Linden, Managing Director of Navkonzept.

Navkonzept will be part of Addsecure, and will be integrated with Addsecure Smart Transport within the coming year. Navkonzept’s Managing Directors, Jochen Linden and Hans-Jörg Nolden, will join the Smart Transport Management Team.