AddSecure-owned Fleet Management Systems provider Vehco announced today that it has acquired frameLOGIC, the leading Polish provider of cloud-based solutions for Fleet Management, Transport Management, and Mobile Workforce Management.
Since AddSecure stepped in as new owners last year, Vehco has actively been pursuing its growth strategy and vision of becoming the leading Fleet Management provider in Europe to heavy commercial vehicles (HCV). The strategic acquisition of frameLOGIC will further accelerate the growth and complement the company’s existing offering. For frameLOGIC, the acquisition is an opportunity to join an expansive European provider and benefit from Vehco’s innovation capabilities and expertise within Fleet Management Systems.
“We are thrilled to welcome frameLOGIC to the Vehco family. They have established a strong team and developed impressive state-of-the-art solutions. Both companies will leverage on each other’s development and there are several synergy opportunities ahead. Our customers will benefit from a broader solutions portfolio and our combined expertise,” says Johan Frilund, CEO of Vehco.
“It’s very exciting for us to join the Vehco team and be a part of their expansive journey. The merger brings opportunities for technological innovations, and growth and scale can be achieved faster. Our customers will benefit from a stronger solutions portfolio and access to the expertise of the whole Vehco group,” says Michał Szprynger, CEO of frameLOGIC.
“The acquisition gives a considerable increase of both companies’ footprint in the market. Vehco and frameLOGIC complement each other well and will aim at becoming leading suppliers within FMS and TMS in Europe together,” says Stefan Albertsson, CEO of AddSecure.
frameLOGIC will continue to be managed as a separate company and brand. Michał Szprynger will join Vehco’s Extended Management Team and report directly to the CEO, Johan Frilund. DLA Piper acted as legal advisor to Vehco.
Anna Stoldt, Corporate Development Director at Vehco, said:
“It has been a pleasure to work with David, Richard and Acuity in securing Vehco’s third acquisition as part of the AddSecure Group. The team’s hands-on support, strategic and tactical input and their detailed knowledge of the European telematics and FMS market played a key role in delivering a successful outcome.”
David Copp, Vice President at Acuity said:
“We are delighted to have supported the Vehco and AddSecure team on successfully bringing another quality European asset into the group. The business is going from strength to strength and frameLOGIC is a natural extension of Vehco’s existing geographical footprint, adding a strong team, broad customer base and transport management capabilities.”