September 20, 2023 [crocon media – msc] In a significant move, Kontron, a leading IoT technology company, has acquired Altimate, a Romanian frontrunner in urban and interurban mobility solutions. This acquisition not only amplifies Kontron’s foothold in the transportation sector but also accentuates its commitment to expanding its high-margin “Software + Solutions” segment.
Altimate’s two-decade-long expertise in urban traffic control, automated fare collection, tolling solutions, and traffic violations solution positions it as a market leader. With a diverse portfolio catering to airports, maritime ports, public transport, and tolling, Altimate’s software solutions are primed to revolutionize urban mobility. The company’s impressive roster of 191 employees, predominantly software engineers, brings unparalleled expertise in intelligent traffic solutions.
Financially, Altimate’s performance has been commendable. In 2022, the company reported revenues of EUR 19.6 million with an impressive gross margin of over 50%. The EBITDA stood at EUR 1.8 million. The future looks even brighter with a shift towards “Software as a Service” and “Mobility Infrastructure as a Service” projects. Integration with Kontron’s transportation business is expected to unlock high synergies, paving the way for marketing these complementary software products across Europe. By 2024, projections indicate revenues exceeding EUR 25 million and an EBITDA margin surpassing EUR 3 million.
For Kontron, this acquisition is a strategic move to bolster its “Software + Solutions” segment, which currently accounts for less than 20% of its revenues. With recent acquisitions and the integration of the existing transportation and susietec® business, this segment is poised to become Kontron’s largest by 2025, contributing to over 50% of the revenue by 2027.
With over 20 years of experience, Kontron AG stands as a beacon in the IoT technology landscape. The company’s intelligent solutions have been instrumental in driving business goals across diverse industries, from automated industrial operations and advanced medical solutions to smarter transport and energy solutions. Listed on the SDAX® and TecDAX® of the German Stock Exchange, Kontron’s global presence is marked by its 4,500 employees and subsidiaries in over 20 countries.
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