The Merger of Oskando and Track24 Creates the Leading GPS Tracking Provider in Estonia
Tallinn, Estonia - January 5, 2011 - Oskando OÜ was the first Estonian company to start developing telematics solutions. It has now acquired a 100% holding in the company Track24 Group OÜ which provides remote vehicle tracking services.
As a result of the merger, Oskando can now boast one of the biggest customer portfolios and the best specialist expertise in Estonia in the field of GPS tracking services.
With the GPS tracking service, vehicles can be tracked on a computer in real time. It is also possible to analyse the routes, fuel consumption and working hours. The merged company will use the trademarks SeeMe, Track24 and Track24 Inspect. Its customers include such industry leaders as G4S, Eesti Energia, Elion, Est-Trans Kaubaveod, Stora Enso and Ragn-Sells. The service has helped customers cut their transport-related operating expenses by 10 to 25 percent.
“Together, we can offer a wider range of services – from simple affordable solutions for small businesses to sophisticated custom set-ups for fleets with hundreds of vehicles,” said Track24 Group OÜ’s former owner and CEO Mr Tauno Talv.
The merger between Oskando and Track24 creates a company that has managed to start export to eight countries within a year – these are Latvia, Lithuania, Poland, Slovakia, Bulgaria, Hungary, Finland and Sweden. This year, the company plans to start distribution in Norway, the Czech Republic and Austria.
“As a result of this merger, we can take a significant step towards our goal – to be the service provider for 30 000 vehicles and one of the leading providers of such services in Eastern Europe. Now, our services are used by more than 5000 vehicles, with 20–25% of the vehicles in foreign countries,” said Mr Jaanus Truu, commenting on the company’s scope and future plans.
He added: “Oskando’s minimum target for 2011 is to double the number of vehicles using our services. And the export markets will play a significant role in this.”
Jaanus Truu will continue as the CEO of Oskando; Tauno Talv will join the management board.
Oskando started operations in 1995 as a hardware development company. Oskando's core business is manufacturing GSM- and GPS-based equipment and offering telematics services. The telematics technology enables monitoring and controlling various moving objects (such as cars, trucks, trailers, vessels, etc.) and stationary objects (gates, electricity meters, security systems), using a mobile network.
For more information, please visit www.oskando.ee, or contact:
Jaanus Truu – CEO of Oskando