According to a press release, AddSecure is set to make an acquisition in Switzerland. The Swedish provider of connectivity solutions in the area of the Internet of Things (IoT) has agreed a takeover deal for LOSTnFOUND AG. Founded in 2009, the company is based in Adliswil in the canton of Zurich. Its activities are focused on the development of solutions in the fields of telematics and IoT for use in the logistics and commercial vehicle sectors.
The takeover is intended to strengthen AddSecure’s position in the DACH (Germany, Austria and Switzerland) market, with the company keen in particular to expand its activities in the area of transport and logistics. Both companies are also seeking to profit from accelerated technology development processes.
According to information in the press release, the founders and managing directors of LOSTnFOUND will continue to be jointly responsible for driving forward expansion plans in the respective markets as part of the new configuration of the company in addition to taking an active part in the further development of this new structure. The process of finalizing the takeover and integrating LOSTnFOUND in the AddSecure Group is expected to take until early 2022.
“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”, comments Daniel Thommen, Managing Director of LOSTnFOUND, in the press release.