The combined company will form a leading Nordic SaaS company as a provider of telematics and IoT services with over 350,000 subscriptions in Europe and the USA. The acquisition is expected to be completed by the end of October 2020. ABAX is owned by the private equity fund Investcorp, which manages more than USD32 billion. Investcorp is headquartered in Bahrain and is listed on the Bahrain Stock Exchange. Arntzen de Besche has acted as Norwegian legal advisor to ABAX alongside Roschier Stockholm as Swedish legal counsel. The core team from Arntzen de Besche has consisted of Lars Horgen Hinze, Anne Kathrine Sande, Asgeir Lehman and Atle Stensrud.
Arntzen de Besche has assisted Investcorp backed ABAX in connection with the acquisition of Automile, a Nordic SaaS telematics and IoT company company. The agreement was announced on 13 October 2020.