COBALT Estonia advised a seed investment company Ambient Sound Investment and other sellers on sale of Ecofleet Holding to Fleet Complete, a leading global IoT provider of mission-critical fleet, asset and mobile workforce management solutions. Through this acquisition Fleet Complete enters new markets in Scandinavia and the Baltics. Value of the deal is confidential.
Ecofleet is the current top telematics provider in the north European market, offering cost-effective, high-benefit mobile asset management solutions in Denmark, Finland, Sweden, Norway, Estonia, Latvia, and Lithuania. The company has over 80,000 subscribers across small-to-medium businesses and large enterprise fleets, growing Fleet Complete's subscriber base to over 110,000 in Europe and over 400,000 globally.
We advised the client in all stages of the transaction, including the due diligence process and representing the client during the negotiations.
The client was advised by specialist counsel Ott Aava, partner Peeter Kutman, and associates Madis Reppo and Liina Saaremets.