Latvian Mapon acquires Swedish fleet management solutions company Interkom AB

Latvian company Mapon, part of the Draugiem Group, is expanding its Scandinavian business by acquiring 100% of shares in Interkom AB. 

Interkom AB is a technology company, helps its customers with IT environment and security, collaboration and communication solutions, strengthening the company's digital infrastructure, telephony and cloud switch. The company was founded in 2020 in Sweden.

The acquisition will enable Mapon to expand in Sweden, not only by acquiring new customers, but also by leveraging the extensive experience of the Interkom AB team in the Swedish fleet management solutions market. 

Mapon is one of the largest providers of fleet management and asset tracking solutions in Northern Europe. The company has more than 30K customers and an extensive network of partners in Europe, the USA, Latin America, Australia and Africa. Mapon has more than 200 professionals working in its offices in Latvia, Lithuania, Estonia, Finland, Denmark and Spain. Mapon was founded in 2004. It is the second largest company in the Draugiem Group. 

In March 2024, Mapon attracted private and institutional investors who invested €3M in the company's bonds. The bond issue was organized in cooperation with Latvian Signet Bank. The issue was advised by Cobalt Law Firm and the collateral agent was Eversheds Sutherland Bitans. According to Mapon, the investment will be used to finance acquisitions in its sector and the expansion of the company's European operations.