AddSecure acquires telematics provider LOSTnFOUND to expand in Central Europe
AddSecure has acquired Swiss telematics company LOSTnFOUND, expanding its reach into Switzerland and Austria. The deal aims to strengthen the company's position in the transport and logistics sector.
AddSecure, a European provider of secure IoT connectivity solutions, has acquired LOSTnFOUND, a Swiss-based company specializing in location tracking and fleet management solutions.
The acquisition expands AddSecure's footprint into Switzerland and Austria, further solidifying its market position within the DACH region's transport and logistics sector. The move aligns with AddSecure's strategy to become a leading European provider of IoT solutions for smart transport.
"We look forward to welcoming LOSTnFOUND into the AddSecure Group. This acquisition supports our strategy to become the leading provider of fleet and transport management solutions in Europe," stated Claes Ödman, President of Smart Transport at AddSecure.
LOSTnFOUND contributes additional telematics expertise, sales, and marketing capabilities, along with a strong customer base to AddSecure. The integration is expected to accelerate technology development and improve efficiency for both entities. The management of LOSTnFOUND will continue in their roles within the combined group.