AddSecure, a leading European provider of secure IoT connectivity solutions with a focus on secure critical communications and secure data, today announced the acquisition of LOSTnFOUND, a Swiss-based provider of location tracking and fleet management solutions.
Through the acquisition AddSecure expands its footprint into Switzerland and Austria, and further strengthens the company’s market leading position within transport and logistics in the DACH region.
“I look forward to welcoming LOSTnFOUND into the AddSecure Group. This acquisition delivers on our strategy of becoming the leading provider of fleet and transport management solutions in Europe and will add complementary telematics and tracking solutions to our business. We believe this acquisition will help us serve our customers in an even better way today and in the future,” says Claes Ödman, President of Smart Transport at AddSecure.
With LOSTnFOUND on board, AddSecure adds additional telematics experience and gains sales and marketing capabilities. In addition, LOSTnFOUND brings a strong customer base
and market presence.
For LOSTnFOUND the acquisition is an opportunity to join a market leading and expanding European provider. It will also allow both companies to speed up technology development, improve cost efficiency and create new revenue streams.
“This deal brings together two European market leaders to create an even stronger portfolio and will enable customers from across Europe to benefit from new solutions, new levels of product functionality, and complementary service offerings,” says Daniel Thommen, Managing Director of LOSTnFOUND.
Swiss LOSTnFOUND AG was founded in 2009 and has subsidiaries in Germany and France, support centers in Austria, and developers in Poland. The founders and managing directors of the LOSTnFOUND group will continue to be jointly responsible for the further development in the respective markets in the new constellation and will also actively participate in the further development in the new structure. The acquisition and integration into the AddSecure Group will be completed by the beginning of 2022.
