Bahrain investors acquired Nordic firm ABAX for $210 million
Bahrain investment firm Investcorp has acquired ABAX, a vehicle tracking systems technology firm based in Norway, for $210 million.
Founded in 2003, ABAX is headquartered in Norway with 350 employees. It develops telematics solutions for commercial and private vehicles and sells products for fleet management and GPS tracking. Their other offices are in Sweden, Finland, Denmark, Holland, Poland, China and the UK. (This is Investcorp third investment in the technology sector in the last 6 months. It had invested in the fleet telematics sector before by investing in SageQuest and Fleetmatics, which eventually merged and listed on NYSE).
Investcorp is listed in the Middle East Investors Directory with the code OR30.
More details follows:
June 6, 2017 |
Filed under Bahrain Investors
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