TWO Swedish company acquisitions strengthen ABAX’s position in Europe’s telematics sector as the UK arm of the vehicle technology business expands in its new base at Petersborough’s ABAX Stadium.
The parent company has purchased Accessor Sverige AB and Ctrack Sweden AB to take the number of business acquisitions in Europe since 2014 to seven. The acquisitions not only increase ABAX’s presence in Sweden but strengthen ABAX’s position in the European market. ABAX has also reported a 50% growth rate for 2015, continuing the trend since it formed in 2009.
The acquisitions strengthen ABAX by adding around 10,000 vehicles to ABAX’s existing subscription base, taking the total to more than 150,000. These vehicles are using ABAX’s technology that includes Triplog, fleet management system software, mileage capture technology and equipment monitoring devices.
ABAX has relocated its UK office to the new business centre situated inside the ABAX Stadium – home of Peterborough United Football Club.
The move to the Allia Future Business Centre from the company’s previous office in Warmington, follows news of ABAX’s growth plans for the UK.
ABAX employs more than 50 people at Peterborough HQ, with space for further expansion as the company focuses on extending its activity across the UK, with an emphasis on London, Manchester and Birmingham.
Chris Miller, ABAX UK chief executive, said: “Moving to the ABAX Stadium has been a long term plan ever since we first started our partnership with Peterborough United in 2014.
“ABAX continues to grow in the UK and we are make new partnerships with companies all around the country. The extra space and superb facilities of the Future Business Centre will allow us to spread our wings even further.”
ABAX first start operating in the UK in 2012. Chris Miller said: “In the UK we have increased our employee workforce this year as we focus on sales of our Triplog technology to help even more businesses save time and money when it come to mileage capture and expense logging.
“The acquisitions strengthen our position as the leading problem-solver for everyone using vehicles for work in Europe. ”
ABAX operates in six European countries and has a reported company revenue of NOK 359 million (£30.5m) in 2015. In 2014 the figure was NOK 239.8 million (£18.7m).