Press release -
Infobric Group acquires TelliQ
Infobric, a leading supplier of IT systems for increased security and effectiveness in the construction industry, is acquiring one of Sweden’s largest telematics companies, TelliQ AB, which will become the Group’s fleet management company. Together, they will form a strong and innovative IT group with a common vision: to create smarter and more sustainable work processes for their customers.
“By adding TelliQ’s product portfolio, strong customer relationships and its many years of experience in developing technology to the strong position that Infobric has built up over the last 15 years, we have a solid platform for scaling up and expanding the opportunities offered by digitization to the construction, haulage and other transport-heavy industries,” says Dan Friberg, CEO of the Infobric Group.
TelliQ AB is one of the market leading companies in digital fleet management systems with over 80,000 connected units. The company develops and provides services to companies where vehicles, machines and facilities are important parts of the business. TelliQ has strengthened its position over the last few years and achieved a turnover of SEK 105 million in 2019. Over the last three years, the company has recorded annual growth of approximately 30%.
“It’s really exciting to be joining the Infobric Group because, just like us, their vision is to provide digital solutions that make work processes easier for businesses. Infobric’s large client base within the construction sector gives us the opportunity to work together to achieve even more growth with unique solutions for the market,” says Joakim Lindquist, CEO of TelliQ AB.
The Group’s ambitions for 2020 and beyond are to push the Group forward in a profitable and sustainable manner, and to continue the high level of growth. In doing so, there will be a focus on taking advantage of the company’s targeted engagement in developing smart, digital tools that can make everyday work more secure and efficient for their customers. Several of the industries which the companies are addressing are in the midst of a digital transformation where digital services and IoT products can reduce administrative work, create a safer working environment and support regulatory compliance as well as minimising risks such as tax evasion. The aim is to be a leading digitization partner who contributes to building sustainable and profitable companies on a solid and healthy foundation.
Infobric is acquiring 100% of shares in TelliQ AB, making it the largest ever acquisition in the company’s history. The purchase is finalized in January 2020 and the majority of the company’s current owners will re-invest in the Group. After the acquisition of TelliQ, the Group’s rolling turnover will be a sizeable SEK 300 million, with 200 employees in five countries. The majority owner of the Group is Summa Equity, a private equity company which combines investments with the UN’s global sustainable development goals.
“We are very proud to welcome TelliQ to the Infobric family and look forward to exciting challenges together,” says Dan Friberg.
For more information, please contact:
Dan Friberg, CEO, Infobric Group
+46 707 88 75 44, email@example.com
Joakim Lindquist, CEO, TelliQ AB
+46 702 27 62 86, firstname.lastname@example.org
TelliQ is a company specialising in fully digital fleet systems and services for modern vehicle fleets. The company was founded in 2002 under the name Arkub AB and was one of the first companies in Sweden to specialise in telematics. TelliQ develops and provides web-based services and solutions which support decision-making processes, make everyday processes easier and increase profitability for companies where vehicles, machines and facilities are important parts of the business. www.telliq.com
Infobric was founded in 2004 and is a group of IT and electronics companies which develop solutions for safer and more effective workplaces. The Group includes the subsidiaries Tempus AS and BlastManager AS. Today, Infobric play a key role at more than 16,000 workplaces and their clients include many of Europe’s largest construction and machine rental companies. Infobric is owned by Summa Equity which invests in technology solutions to solve global sustainability challenges. www.infobric.com
Summa Equity is a lower mid-market Private Equity firm in the Nordics. It is a megatrend driven, thematic investment company focusing on Resource Efficiency, Changing Demographics and Tech-enabled Businesses. Summa Equity is amongst the first Private Equity firms to commit to the UN Sustainable Development Goals and its investments are aligned with these. Summa Equity was founded in 2016. www.summaequity.com