Norwegian telematics company ABAX has expanded into Germany with an office in Berlin.

ABAX has expanded into Germany with an office in Berlin

The firm, which was acquired by Bahrain-headquartered private equity firm Investcorp in June this year, said Germany remains untapped when it comes to advanced aftermarket telematics solutions, with a market penetration rate of only 15% and a potential 3.2 million commercial vehicles to target.

“We are looking forward to our strategic entry into the German market. Like the rest of our markets, the German market demands solid technical solutions which makes it easier to manage small and large vehicle fleets in an efficient and smart manner,” said Petter Quinsgaard, CEO ABAX Group.

The move follows rapid growth rates in the UK and Dutch markets, with future growth planned within Europe.

“ABAX’s continued growth into new European markets highlights the progression that we are making as a company. The German economy is one of the strongest in Europe and will, along with offices in Poland and The Netherlands, help to capture significant market share within mainland Europe,” added Chris Miller, CEO ABAX UK.