[Peterborough 13.12.17] The Norwegian telematics company ABAX announced today that it is to continue its expansion streak as the company enters Germany. This follows rapid growth rates in the UK and Dutch markets.
“We are looking forward to our strategic entry into the German market. Like the rest of our markets, the German market demands solid technical solutions which makes it easier to manage small and large vehicle fleets in an efficient and smart manner”, says Petter Quinsgaard, CEO ABAX Group.
3.2 million commercial vehicles are waiting for ABAX in one of the most attractive automotive markets in the world. With a market penetration rate of only 15% it still remains significantly untapped when it comes to advanced aftermarket telematics solutions.
“ABAX’s continued growth into new European markets highlights the progression that we are making as a company. The German economy is one of the strongest in Europe and will, along with offices in Poland and The Netherlands, help to capture significant market share within mainland Europe”, says Chris Miller, CEO ABAX UK.
The solutions provider has experienced significant growth rates above 30% in the last five consecutive years. In June 2017, ABAX was acquired by the investment bank Investcorp for 1.8 billion NOK. Germany is the first new market after the acquisition, with the office being located in Berlin.
Kenneth Hansen, Communications Manager ABAX Group, +47 94843837,email@example.com
ABAX Group is a Norwegian telematics company and aftermarket solutions provider for commercial and private vehicles. ABAX is currently one of the leading telematics companies in Europe. Additionally, ABAX provides products for Fleet Management, project management and GPS tracking of equipment. ABAX has 450 employees and offices in Norway, Sweden, Denmark, Finland, United Kingdom, the Netherlands, Poland and China. The company headquarters are based in Larvik, Norway. www.abax.co.uk