AddSecure completes acquisition of LOSTnFOUND
Together the two companies will provide customers across Europe with comprehensive IoT connectivity solutions that streamline operations and optimize fleets’ utilization.
AddSecure, a leading European provider of secure IoT connectivity solutions, today announced that it has completed the acquisition of LOSTnFOUND, a Swiss-based provider of location tracking and fleet management solutions.
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 organization. Together, we will take our customers' logistics operations to the next level, streamlining operations and optimizing fleets utilization. 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.)
For more information, please contact:
Daniel Thommen, CEO, LOSTnFOUND AG
Phone: +41 (0) 44 500 40 95, presse@lostnfound.com
Kristina Grandin, Director Corporate and Marketing Communications, AddSecure
Mobile: +46 70 689 52 08, kristina.grandin@addsecure.com
About LOSTnFOUND AG and fleet.tech
The Swiss group LOSTnFOUND AG develops and operates telematics and Internet of Things solutions for companies in the logistics and commercial vehicle industry. fleet.tech is a LOSTnFOUND brand and promotes various telematics solutions. The twelve-language fleet.tech telematics solutions are used daily by more than 1,000 customers. LOSTnFOUND developed its first solution in this area in 2009 and is now one of the leading providers in this market. Its products have repeatedly been awarded international innovation prizes in recent years.
About AddSecure
AddSecure is a leading European provider of secure IoT connectivity solutions with a focus on critical communications and safe data. The reliable end-to-end-solutions are based on secure critical communications technology that combine IoT connectivity platforms, software, and services, tailored to meet customers’ needs across different industries.
Today more than 50,000 customers within the security and safety industry, rescue services, building security and automation, digital care, construction, transport and logistics, utilities, smart cities, and more, safeguard their life- and business-critical operations with IoT solutions from AddSecure. This helps save lives, protect property and vital societal functions, and drives business.
AddSecure currently applies its expertise within secure critical communications and safe data in Smart Alarms, Smart Care, Smart Rescue, Smart Surveillance, Smart Transport, and the emerging technology area Smart Grids.
The headquarters are located in Stockholm, Sweden, with additional offices across Europe. The company employs around 900 people in 15 countries.
AddSecure is majority-owned by Funds, managed by Castik Capital, a European private equity fund with a long-term approach to value creation.
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