TelliQ was acquired by Infobric Group
TelliQ AB, an Arboga, Sweden-based provider of M2M and telematics for digital vehicle systems, announced getting into an agreement for being acquired by Infobric, a Swedish holding group of IT and electronics companies.
The financial details of the transaction remained undisclosed.
TelliQ AB, founded in 2002 under the name Arkub AB and led by CEO Joakim Lindqvist, develops and delivers digital vehicle systems to companies where vehicles, machinery and plants form an important part of the business. The company had sales of SEK 105 million ($11M) in 2019.
Infobric, founded in 2004 and led by CEO Dan Friberg, is a supplier of software solutions and IoT products for building sites in the Nordics. The company has developed proprietary solutions for building sites in order to solve the industry’s productivity challenges, meet increased regulatory demand for workplace safety and support initiatives to combat undocumented labour.
Following the acquisition of TelliQ, Infobric's rolling annual sales will be SEK 300 million ($32M), with 200 employees in five countries.