AddSecure, a European provider of premium solutions for secure data and critical communications, announced the acquisition of Connexas, a provider of fleet management solutions throughout the UK, EU, North America and Australia.
With Connexas, AddSecure establishes a presence for transport and logistics, in the strategically important UK market, and further realises its strategy of becoming a provider of Fleet and Transport Management solutions across Europe.
Through the acquisition, AddSecure will see annual revenues increase by €25 million, to a total of €145 million. The deal will also add 100,000 billable connections, taking AddSecure to a total of more than 2 million connected units in Europe across all verticals.
“This move not only increases our technology and connection base, it also offers significant growth potential, builds on our European footprint and will add further to the financial strength and performance of our company,” comments Stefan Albertsson, CEO of AddSecure.
“Connexas is a recognised leader in connected vehicle technology, and the UK an important market for our growth. The acquisition of Connexas will address this geographical gap while bringing leading solutions and a strong team. I am very impressed by their technology platform and innovative range of products and see that great synergy effects will be achieved through our complementary offerings”, says Johan Frilund, managing director, Smart Transport business unit of AddSecure.
“We are delighted to be joining forces with AddSecure, as it will enable us to further accelerate our growth plans. Both businesses are a perfect fit for each other, and more importantly, for our customers who are looking for the best of available technologies along with a one-stop fleet and transport management platform to plan, track and improve the efficiency of their delivery operations,” adds Jim Sumner, executive chairman of Connexas.
With its industry-leading technology solutions spanning full journey and delivery management, high definition camera systems and driving performance applications, Connexas empowers fleets to become smarter, safer and more efficient. This vision aligns fully with AddSecure’s mission to help its customers contribute to a safer and smarter
Smart Transport, one of AddSecure’s five business units, is based on the solutions, services and people of the previous acquisition, Vehco, recently rebranded AddSecure. Other business units are Smart Alarms, Smart Care, Smart Grids and Smart Rescue. The Smart Transport solutions enable transport and logistic customers to manage their transport activities efficiently with seamless interaction and real-time information flows between drivers, vehicles and office teams.
While Connexas will be part of AddSecure, it will also continue to be managed as a separate company. Connexas’ CEO, Andrew Overton, will join the Smart Transport Management Team and report directly to the managing director of AddSecure Smart Transport, Johan Frilund.