Wednesday, July 8, 2020

Northampton connected vehicle solution provider acquired by Swedish firm

AddSecure, a Sweden headquartered provider of solutions for secure data and critical communications, has acquired Connexas, a Northampton-based provider of smart transport solutions.

Through the acquisition, AddSecure will see annual revenues increase by €25M, to over €145M. The deal will also add over 100,000 billable connections, taking AddSecure to a total of more than 2 million connected units in Europe across all verticals.

Stefan Albertsson, CEO of AddSecure said: “This move not only increases our technology and connection base, but it also offers significant growth potential, builds on our European footprint and will add further to the financial strength and performance of our company.”

Andrew Overton CEO of Connexas said: “We were immediately impressed with the Addsecure management team on first meeting them, and knew from the outset they were the right partner in terms of culture, vision and technological synergy.

“I am quite sure the new combined business will go from strength to strength and will also create a significant opportunity for the customers who benefit from the smart, safe logistics solutions we provide.”

Jim Sumner, Chairman of Connexas said: “We are delighted to be joining forces with AddSecure, as it will enable us to further accelerate our growth plans.

“The last 3 years have been an incredible journey and our recent results with Revenues and EBITDA up 22% & 29% respectively, testament to that. Finally, I would like to thank the whole Connexas team for their commitment and support.”

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