AddSecure closes Clifford Group acquisition
The closing is an important milestone in AddSecure’s growth strategy and provides the company with access to advanced mobile security and connected mobility solutions.
AddSecure today announced the closing of the previously announced acquisition of Clifford Group, a leading multi-brand telematics company in the Benelux. The acquisition provides AddSecure with access to advanced mobile security and connected mobility solutions.
“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.
More information can be found in AddSecure’s September 4, 2023, acquisition announcement press release here.
For more information, please contact:
Kristina Grandin, Director Corporate and Marketing Communications, AddSecure
Mobile: +46 70 689 52 08, kristina.grandin@addsecure.com
About Clifford Group
Clifford Group is a leading multi-brand telematics company providing certified, advanced mobile security and connected mobility solutions in the Benelux. Clifford has a strong position as a Stolen Vehicle Recovery Service provider for both the automotive and non-automotive sectors, supporting best-in-class telematics infrastructure solutions focused on preventing theft and recovery of stolen vehicles and mobile objects. Clifford Group using the Clifford and Faringwell labels mainly focuses on premium automotive brands in the Benelux through the car importer & car dealer channels and the universal installer network. The company plays a pivotal role in this industry infrastructure as an unparalleled interface between installers, car importers, telematics service providers, dealers, OEMs, and end-consumers. In addition to these mobile security solutions, Clifford Group offers connected mobility solutions under the Traxgo brand focused on enabling fleet managers to optimize the efficiency in operating their fleet and safeguarding the value of their mobile assets. Supported by an inhouse experienced R&D team, the reliable and scalable Traxgo platform with optional planning interface allows for tailor made solutions which over years attracted many large and medium sized fleets, rental and leasing companies and all other sorts of fleets.
About AddSecure
AddSecure is a leading European provider of secure IoT connectivity and end-to-end solutions. We help customers optimize their operations, drive business value, and secure vital functions.
By combining connected, data-driven, and sensor-based solutions with best-in-class expertise, we meet our customers’ needs regardless of industry. We provide both managed services and connect any device in need of secure communications and data transfer. Imagination is the only limit.
Our secure IoT solutions are used within the areas of buildings, alarms, transportation and logistics, personal safety and security, health care, construction, municipalities, schools, rescue services, power grids, and more.
AddSecure’s headquarters is in Stockholm, Sweden. Our main market is Europe, yet we serve customers worldwide. With over 1,000 employees, we help make the world safer, smarter, and more sustainable.
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