Trackunit buys German tech business
18 January 2023
Telematics specialist trackunit has acquired German ‘disruptor’ company Flexcavo. The terms of the agreement, which closed on 1 January, have not been disclosed.
Trackunit said the move will allow it to extend its reach in the contractor market.
Berlin based Flexcavo is a hybrid rental and software business founded in July 2020 by Benedict Aicher and Leonhard Fricke.
The company, which draws comparisons with US-based rental and texchnology company EquipmentShare, develops apps and software for data-enabled workflow and process management, targeting the contractor market. It also has its own rental equipment fleet.
Soeren Brogaard, CEO of Trackunit, said the deal “significantly strengthens our offering to contractors and those with mixed fleets.”
The move would have long term benefits for the rental/contractor relationship, he said.
“It’s adding new capabilities and will allow rentals and contractors to smooth out any hiccups relating to machine usage, efficiencies and productivity.
“It fits with the industry-wide purpose to eliminate downtime and any move that brings us closer to that goal can only make construction better.”
Flexcavo Co-Founder Leonhard Fricke said the acquisition would “boost our developing capabilities significantly so that contractors and rental companies can benefit from even faster feature releases, real-time data across all machinery, and even more automation of processes between site, yard, and headquarters.”
“Making our offering available in other key markets and supporting customers in their digitisation efforts will be our key mission going forward,” he said.
Trackunit’s 400-strong staff has doubled in the last 18 months, CEO Brogaard confirmed; “with the acquisition of Flexcavo, we’re on track to continue growing.”
Trackunit’s recent strategic acquisitions include the industrial IoT division of its competitor ZTR in late 2021.