AddSecure, a Nordic market provider of a secure communications platform enabling the automated control and remote monitoring and management of sensors and other devices deployed in the field, has been acquired by ABRY Partners, a Boston, MA-based private equity firm.
The seller was Viking Venture.
The amount of the deal was not disclosed.
Established after the merger of the Viking Venture backed company Safetel AS and Multicom Security in 2014, AddSecure provides secure mission-critical machine to machine communications for security and other applications across a wide range of verticals including healthcare, public safety, transportation and utilities.
Following the merger, AddSecure has grown into employing around 120 people, having 120,000+ active subscribers and a network of over 1,000+ channel partners in Norway and Sweden. The company had revenues of SEK 374 mill. in 2015 with an EBITDA of SEK 124 mill.
The company is based in Hägersten, Sweden and Oslo, Norway.