Draugiem Group company Mapon will expand its operations in Estonia by acquiring 100% of the shares of the local telematics company CarCops. As a result of the merger, Mapon will become one of the leading developers of fleet management solutions in Estonia, providing services to more than 8,000 vehicles.
Both Mapon and CarCops offer fleet management and GPS tracking solutions for businesses, helping to ensure efficient resource management, improve road safety and promote sustainable corporate governance. Both companies have experienced rapid growth over the past year – the turnover of Mapon’s daughter company Mapon Estonia increased by almost 40%, reaching 270 thousand euros, while CarCops – by 51%, reaching 700 thousand euros.
“We have been operating in the Estonian market since 2019, and the acquisition of CarCops will significantly strengthen our position in the market. I am sure that this opportunity will allow us not only to move to the next stage of growth, becoming the leading provider of fleet management services in Estonia, but also to expand the company’s operations in Northern Europe,” says Mapon director Ingus Rūkis. “We share business values - the desire to ensure high quality of service and customer support, honesty and transparency – so we look forward to the integration of the CarCops team in Mapon,” he adds.
“Over time, both companies have developed different strengths that will help us drive future business growth. CarCops has strong technical and support teams that will complement Mapon’s experience in sales and software development well. The merger will create a very good synergy between the two companies, which will allow us to provide excellent service quality and service to our customers worldwide,” explains Riho Pihlakas, director of CarCops.
The merger between Mapon’s Estonian subsidiary and CarCops will be finalized in June. In the future, the company will continue to operate under one name – Mapon Estonia. So far, Mapon has acquired companies in Denmark and Finland in a similar way, as well as a wide portfolio of customers in Lithuania. Mapon also has a branch in Barcelona and representative offices in Helsinki and Aarhus (Denmark).
Mapon is one of the leading providers of fleet management and asset tracking solutions in Northern Europe. The company has more than 25 thousand customers and a wide network of partners on six continents who have tracked more than 30 billion kilometers using Mapon solutions. Mapon currently has 166 employees and is the second largest company of the Draugiem Group.
2023-05-30 06:30:00
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