22 Dec 17
News

ABAX acquires Fleetfinder

Norwegian telematics company ABAX has acquired Fleetfinder, a tracking specialist based in Denmark. The value of the deal was not disclosed. 

Fleetfinder has 17 years of experience on the Danish tracking and fleet management market. Its portfolio of around 7,000 subscriptions virtually doubles ABAX's existing client volume, and brings the number of vehicles under contract up to 220,000. 

ABAX has acquired 8 other companies since 2014. Fleetfinder is its first buy since ABAX itself was acquired by Investcorp, last June. 

“The rapid consolidation we now see in the European markets will continue and ABAX will be at the forefront of this trend as we move forward into 2018,” Petter Quinsgaard, CEO of ABAX Group was quoted by International Fleet World.

Authored by: Frank Jacobs