TelliQ acquired a part of Axtech from Western Sweden.

Sweden M&A 09 September 2019
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TelliQ, an Arboga, Sweden-based provider of M2M and telematics services, announced that it acquired a part of the company Axtech, based out of Gothenburg, Sweden.

Financial details of the deal were not disclosed.

Axtech AB, founded in 2003 and led by CEO Åsa Eklund, is a company that specializes in GPS-based communication and GPS tracking. They sell GPS-based alarms and have since 2007 started to develop their own hardware and software. Axtech launched its first product in redknows MiniFinder 2008 and has since launched several alarms and fleet management products.

TelliQ, founded in 2002 under the name Arkub AB and led by Joakim Lindqvist, CEO of TelliQ, is a company that specializes in complete digital vehicle systems and services for modern vehicle fleets. TelliQ develops and offers web-based services and solutions, which provide decision support, simplify everyday life and increase the profitability of companies where vehicles, machinery and plants are an important part of the business.