“This acquisition is an important step in our European growth strategy as we seek to ensure Addsecure is well positioned in key IoT verticals and to sustain our competitive advantage”, says Stefan Albertsson, CEO of Addsecure.

Clifford Group will become part of Addsecure and established as a new business unit, called Smart Mobility, providing telematics and business software solutions within its mobile security and connected mobility segments.

Clifford Group operates under the integrated brands Clifford, Faringwell and Traxgo. Clifford and Faringwell are exclusive providers of preventive and reactive vehicle security solutions.

Traxgo is Clifford’s connected mobility business that ensures and improves coordination within fleet management and contributes to a safer driving environment.

The closing of Addsecure’s acquisition of Clifford Group is an important milestone for the company in its ambition to position itself as a European leader in secure IoT connectivity and end-to-end solutions.

GP Bullhound acted as the exclusive financial advisor to Clifford Group on its acquisition by Addsecure.