Tech company ABAX increased revenue four years in a row
Tech company ABAX increased revenue four years in a row

The annual report shows an increase in revenue of 15.6%.

“2017 was another good year for ABAX where we experienced growth. In percentage, the growth is somewhat smaller than previous years, but a growth in revenue of 60 million NOK, and a growth in EBIDTA of 3.5 million NOK is still very good results”, says CEO in ABAX Group, Petter Quinsgaard.

The biggest news in 2017 was the acquisition of ABAX for 1.8 billion NOK by the investment corporation Investcorp. In addition to this, ABAX acquired the Danish telematics company Fleetfinder ApS, to strengthen our market in Denmark.

“With Investcorp as new owners, we can continue our journey towards new markets, and in addition further strengthen our presence and position in the countries we are already established in”, says Petter Quinsgaard, CEO in ABAX Group.

ABAX is working continuously to become the number 1 in the world in their segment. In 2018 the company’s mission statement was changed to “Solutions Provider for the Connected Workspace”, and it is in this segment that the company see the potential for vast growth in the years to come.

“It’s with great pleasure that we, also in 2017, managed to grow and deliver solid results. We have invested a lot in research and development, and also done a lot of organisational changes this year to be ready for what the future brings”, says Bjørn Erik Helgeland, COO in ABAX Group.

Highlights in 2017



Financial key figures (in MNOK) 2017 2016 Changes in %
Revenue 385.5 325.4 15.6
EBITDA 62.0 58.5 6.0


For more information:

Petter Quinsgaard, CEO, ABAX Group, +47 909 12 277,

Bjørn Erik Helgeland, COO, ABAX Group, +47 980 71 000,


About ABAX

ABAX is a solutions provider for the connected workspace. Backed by Investcorp, ABAX is one of the leading companies in Europe within the telematics and IoT-industry. Through smart solutions, ABAX connects your workspace by offering a variety of products and services. These services enables businesses to boost productivity, reduce costs while keeping oversight, and also increase performance among leaders and employees. All solutions are offered and delivered as Software-as-a-Service. ABAX has 450 employees and offices in Norway, Sweden, Denmark, Finland, United Kingdom, the Netherlands, Germany, Poland and China. The company headquarters are based in Larvik, Norway.