26 March 2007

Oskando acquires 20% position in Eurosat Group

TALLINN, March 26 2007 – Telematics company Oskando announces its first technology investment, acquiring a 20 percent stake in GPS solutions provider Eurosat Group, an Estonian company with over a hundred business clients.

The main products of Eurosat Group are an internet based vehicle positioning system Track24 and a monitoring solution for special machinery, Inspect.

"Acquiring a stake in Eurosat is part of a long-term plan of Oskando's owner Ambient Sound Investments (ASI) to keep investing in telematics," said Oskando CEO Ülle Kivirähk. "Our goal is to expand activity and gain knowledge through increased cooperation."

We gain a lot from Oskando's investment," commented Eurosat GM Tauno Talv.

"Their expertise helps us to continue the fast growth. We can adopt more ambitious plans, including entering the Latvian telematics market in the near future," Talv added.

Eurosat Group

Eurosat Group, established in 2003 specializes in the development and sales of GPS based positioning equipment, related systems and software. The company employs 13 people.


Oskando, established in 1995 specializes in the development, production and sales of GSM and GPS based security and positioning devices for motor vehicles and small boats. Oskando sells it products in Estonia, Latvia, Finland, Norway, England, Ireland, the Netherlands, France and Italy. The company employs 15 people.

For more information, please contact:

Tauno Talv
General manager, Eurosat Group
Skype name: tauno_talv
+372 56980100

Ülle Kivirähk
CEO, Oskando
Skype name: ullekivirahk
+372 50 11745