Mapon to acquire Estonian telematics company CarCops

Mapon, the fleet management company, and part of the Draugiem Group, will expand its operations in Estonia by acquiring 100 percent of the telematics company CarCops’ shares. As a result of the merger, Mapon will become one of the biggest fleet management companies in Estonia, providing services to more than 8,000 vehicles in the country.

Both Mapon and CarCops provide fleet management and GPS tracking services for corporate clients to ensure efficient resource management, improved road safety and business sustainability. Both companies have seen exponential growth in the last year alone – Mapon Estonia increased its turnover by almost 40 percent reaching EUR 270,000, and CarCops by 51 percent, totalling EUR 700,000.

The proposed merger of Mapon Estonia and CarCops is expected to be completed in June. Moving forward, the company will operate under the Mapon Estonia name.

So far, Mapon has acquired the Danish telematics company Danfleet and a business in Finland, as well as a diverse portfolio of clients in Lithuania. Additionally, Mapon has a branch in Barcelona, along with subsidiaries in Helsinki and Aarhus. The company counts more than 25 thousand clients and a partner network across six continents that have collectively tracked more than 30 billion kilometres using Mapon solutions. Mapon currently employs 166 people and is the second-largest company of the Draugiem Group.

Source: Press release (www.labsoflatvia.com)
Publicity photo: Ingus Rūķis and Andris Dzudzilo, Co-CEOs of Mapon