AddSecure to acquire Swiss telematics provider LOSTnFOUND
Customers across Europe will benefit from a broader offering of telematics, location tracking, and fleet management solutions, whilst AddSecure strengthens its position as a leading European IoT provider.
AddSecure, a leading European provider of secure IoT connectivity solutions with a focus on secure critical communications and secure data, today announced the acquisition of LOSTnFOUND, a Swiss-based provider of location tracking and fleet management solutions.
Through the acquisition AddSecure expands its footprint into Switzerland and Austria, and further strengthens the company’s market leading position within transport and logistics in the DACH region.
"I look forward to welcoming LOSTnFOUND into the AddSecure Group. This acquisition delivers on our strategy of becoming the leading provider of fleet and transport management solutions in Europe and will add complementary telematics and tracking solutions to our business. We believe this acquisition will help us serve our customers in an even better way today and in the future,” says Claes Ödman, President of Smart Transport at AddSecure.
With LOSTnFOUND on board, AddSecure adds additional telematics experience and gains sales and marketing capabilities. In addition, LOSTnFOUND brings a strong customer base
and market presence.
For LOSTnFOUND the acquisition is an opportunity to join a market leading and expanding European provider. It will also allow both companies to speed up technology development, improve cost efficiency and create new revenue streams.
“This deal brings together two European market leaders to create an even stronger portfolio and will enable customers from across Europe to benefit from new solutions, new levels of product functionality, and complementary service offerings,” says Daniel Thommen, Managing Director of LOSTnFOUND.
Swiss LOSTnFOUND AG was founded in 2009 and has subsidiaries in Germany and France, support centers in Austria, and developers in Poland. The founders and managing directors of the LOSTnFOUND group will continue to be jointly responsible for the further development in the respective markets in the new constellation and will also actively participate in the further development in the new structure. The acquisition and integration into the AddSecure Group will be completed by the beginning of 2022.
For more information, please contact:
Daniel Thommen, CEO, LOSTnFOUND AG
Phone: +41 (0) 44 500 40 95, email@example.com
Kristina Grandin, Director Corporate and Marketing Communications, AddSecure
Mobile: +46 70 689 52 08, firstname.lastname@example.org
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.
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.