Cabonline Group strengthen its position in the Nordic market by acquiring the Finnish companies Kovanen and Mankkaan Taksi
Cabonline Group today announced that it will acquire Kovanen and Mankkaan Taksi. This acquisition will allow Cabonline entry to the Finnish taxi market and to become a stronger player in the Nordic transportation segment as a digital service provider.
Kovanen and Mankkaan Taksi have a strong position in both the consumer and corporate segments in the capital area in Finland and their combined turnover in 2016 was approximately 240 MSEK. Kovanen and Mankkaan Taksi are leading taxi brands in Finland and both firms are well know for their high quality service.
-The acquisition of Kovanen and Mankkaan Taksi is consistent with our strategy to continue our expanision in the Nordic countries and I am very proud to enter the Finnish market. This is a unique opportunity for us to build on the experience we have from the Swedish and Norweigan markets as the Finnish market finally faces deregulation and we are looking forward to further digitalize and develop the Finnish market , says Thomas Ekman, CEO Cabonline Group.
After the acquisitions, Cabonline will be the biggest taxi company in Finland and have a very strong position before the deregulation takes place in the summer 2018.
For additional information contact:
Thomas Ekman, CEO Cabonline Group tel +4670 426 4707
Olof Fransson, CFO Cabonline Group tel +4670 517 2022
Pernilla Oldmark, CCO Cabonline Group tel +4670 426 4545
About Cabonline Group
Cabonline Group and is one of Europe’s leading technology and service providers to the taxi and transportation industry. In Sweden and Norway around 3,500 transporters with approximately 7,000 vehicles are connected to us under different brands such as TaxiKurir, Taxi 020, Norgestaxi, TOPCAB, Taxi Skåne and Sverigetaxi. Through Cabonline Group, the transporters get access to attractive customer contracts, leading technology platforms as well as access to scale advantages and infrastructure. Cabonline Group has yearly net revenue of around SEK 5,6 billion and handles approximately 60,000 trips per day. www.cabonline.com.