IoT services provider Trackunit has closed a deal for Flexcavo, a developer of software solutions for construction contractors and rental clients, that will extend its reach into the contractor segment.
Trackunit, which offers software-as-a-service IoT solutions and machine insights to the global construction equipment industry, will strengthen its offerings through the acquisition of Flexcavo. The German provider specializes in data-based workflow and process management through the construction sector, enabling contractors and rental companies to increase their efficiency, lower costs, and improve the team's collaboration across construction sites, yards, and headquarters.
"We're delighted to welcome Flexcavo into the Trackunit group and this significantly strengthens our offering to contractors and those with mixed fleets," said Soeren Brogaard, CEO of Trackunit. "We're looking forward to leveraging Flexcavo's expertise and make sure we're serving our customers in the best way possible moving forward.
"Our team has doubled in the last 18 months and with the acquisition of Flexcavo, we're on track to continue growing," said Brogaard. "We're ambitious and this move fits perfectly with our overall strategy."
Trackunit currently has just under 400 employees.
"We are excited and proud to join forces with Trackunit," said Flexcavo Co-Founder Benedict Aicher. "This enables us to double down on our ambition to be the leading partner for every contractor who strives for excellence and wants to make the most of every single job.
"Being part of the Trackunit ecosystem allows for a deeper integration into the contractor value chain and beyond," he said. "I know the Trackunit team shares our commitment to build the most useful industry for the world, and I can't wait to get started."
Fellow Co-Founder Leonhard Fricke additionally highlights the potential for Flexcavo, which employs approximately 30 staff, to make their solutions for customers even better.
"It will boost our developing capabilities significantly so that contractors and rental companies can benefit from even faster feature releases, real-time data across all machinery, and even more automation of processes between site, yard, and headquarters," he said. "Making our offering available in other key markets and supporting customers in their digitization efforts will be our key mission going forward."
Brogaard added that the acquisition should also enable Trackunit to manage the rental/contractor relationship even better in the future.
"It's adding new capabilities and will allow rentals and contractors to smooth out any hiccups relating to machine usage, efficiencies and productivity," he said. "It fits with the industry-wide purpose to eliminate downtime and any move that brings us closer to that goal can only make construction better."
