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25.10.2022

Eurowag to acquire Inelo Group, expanding market presence across Europe

Acquisition of a leading provider of integrated technology solutions in Poland and Slovenia significantly enhances Eurowag’s scale and product capability, while supporting the development of its digital platform

Eurowag to acquire Inelo Group, expanding market presence across Europe

Prague 25 October 2022 - Eurowag, a leading pan-European integrated payments & mobility platform focused on the Commercial Road Transportation (“CRT”) industry, is acquiring 100 percent of Inelo Group, a leading provider of integrated technology solutions for heavy-duty transport in the CEE region, from Innova Capital. The transaction will expand Eurowag’s geographic footprint across 16 European markets and roughly double its base of telematics devices. With this step, Eurowag will also expand its product portfolio by adding mission-critical working time management and fleet management solutions, helping customers increase the efficiency of their operations through digitalisation and improve the well-being and safety of drivers. Eurowag's founder and CEO – Martin Vohánka stresses that the acquisition, worth in excess of 300 million euros, will accelerate the development of Eurowag’s fully integrated digital end-to-end platform, helping to make the CRT industry cleaner, fairer and more efficient.

Inelo Group is an international leader in solutions for transport industry. The company is present in more than a dozen European markets and for 20 years has been equipping the CRT sector with digital solutions in the areas of GPS satellite localisation software (drivers' car location, routing and vehicle monitoring) and software for analysis and settlement of drivers' working time. Over the past few years, operating within the Innova Capital fund, Inelo Group has made 4 strategic acquisitions of companies: NUSS, Marcos Bis, CVS Mobile, and FireTMS. This has enabled Inelo to continue its dynamic growth and evolve from a local company into a leader in integrated technology for transport in the CEE region.

Approximately 87,000 vehicles are currently equipped with Inelo telematics devices, about 100,000 drivers use Inelo’s software for the settlement of drivers’ working time, and nearly 60,000 are settled through its outsourcing service. In addition, the Polish company supplies 43 control inspections in 23 countries with tools that are used to control international road transport.

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This strategically important transaction not only brings additional scale to Eurowag, it also takes us significantly closer to achieving our ambition of delivering a fully integrated, digital end-to-end platform for customers in the commercial road transportation sector. Inelo adds approximately 87,000 connected trucks to our network and solidifies our position as a leading provider of fleet management solutions to the CRT industry in the CEE region. Importantly, it also adds exciting new products to our platform in working time management solutions, which provide mission critical services to customers and drive excellent customer retention. We look forward to welcoming Magdalena, Mikolaj and their team to Eurowag and working with them as we continue to expand our digital end-to-end platform.
Martin Vohánka, Founder and CEO of Eurowag
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We are capitalising on the wave of digitalisation sweeping across the CRT sector and this potential has been recognised by Eurowag Group. I am delighted that, by partnering with Eurowag, we will be able to continue developing our one-stop-shop for commercial road transport across Europe and, by joining forces with a pan-European leader, accelerate our growth.
Magdalena Magnuszewska, CEO of the Inelo Group

Media contacts:

EUROWAG

Zuzana O’Brien

Marketing Communication Manager

pr@eurowag.com

www.eurowag.com

About Eurowag

Eurowag was founded in 1995 and is a leading pan-European integrated payments & mobility platform focused on the commercial road transportation industry. Eurowag’s innovative solutions make life simpler for small and medium businesses in the Commercial Road Transportation industry across Europe through its unique combination of payments solutions, seamless technology, a data-driven digital eco-system and high-quality customer service. www.eurowag.com

About Inelo Group

Inelo Group is a leading Polish company, for over 20 years providing SMEs and transport market leaders with CRT industry-focused digital solutions in the field of satellite vehicle location systems and software for analysing and settlement of drivers' working time. With its wide product base, implementing the one stop shop strategy, it has become a business partner for 10,000 transport and logistics companies. Inelo Group also offers a wide exposure to integrated technological solutions with particular emphasis on Work Time Management for foreign markets, including SaaS-based Tachoscan Web. Moreover, the Polish brand provides 42 enforcement authorities in 23 countries with tools for international road transport control. www.inelo.pl