Historical Announcements

Draugiem Group company Mapon expands its presence in the Nordic region by acquiring 100% of the shares in Interkom AB, a fleet management provider based in Lund, Sweden.

Mapon and Interkom AB offer fleet management and GPS tracking solutions, helping clients optimize resource management, enhance road safety, and promote sustainable corporate governance. This acquisition strengthens Mapon’s customer base in Sweden and brings in a team of seasoned professionals, enabling faster growth in the Swedish market.

"The acquisition of Interkom AB is a significant step in Mapon's growth, strengthening our position in Sweden. We continue executing our strategy by acquiring industry-relevant companies, and Interkom AB, with five years of experience in our industry, will be a valuable addition to our team. We have already established a presence in the Baltic States, Denmark, Finland, and Spain, and the Mapon team supports clients and partners worldwide every day," says Davis Siksnans, CEO of Mapon.

The acquisition serves as a key step in Mapon’s expansion in Sweden, not only by adding a new Transit.se client portfolio but also by leveraging Interkom AB’s deep expertise in the Swedish fleet management market. The company has built a solid foundation, and combined with Mapon’s resources, it will provide more comprehensive and convenient solutions for clients in Sweden.

“We’re proud of what we’ve achieved so far. Looking ahead, this deal marks the beginning of an exciting new chapter. Our experience in technology and sales, combined with Mapon’s expertise, will allow us to scale even faster,” comments Jamal Bajwa, founder of Interkom AB.

Mapon has executed other similar acquisitions to expand its market share across Europe. The company previously acquired the client portfolios of its partners Trackon and TrackingMap in Lithuania. In June 2023, it completed the acquisition of CarCops, along with its extensive client base in Estonia. Additionally, in March 2024, Mapon secured a €3 million investment from private and institutional investors to support its merger and acquisition strategy.

Mapon, a Draugiem Group company, is one of Northern Europe’s leading providers of fleet management and asset-tracking solutions. It serves over 30,000 clients and maintains a vast partner network across Europe, the US, Latin America, Australia, and Africa. The company employs more than 200 professionals across Latvia, Lithuania, Estonia, Finland, Sweden, Denmark, and Spain. The company’s turnover reached €17.3 million in 2023.

Mapon announces fixing coupon rate for a floating-rate bond effective from 31 December 2024. 

Mapon bonds with ISIN LV0000860161, coupon of 5% + 3-month EURIBOR, maturity on 8 March 2027, new coupon rate for period from 31 December 2024. and ending on 30 March 2025 is 7.772%. The coupon for this period will be paid on 30 March 2025.

Mapon bonds with ISIN LV0000860161, coupon of 5% + 3-month EURIBOR, maturity on 8 March 2027, new coupon rate for period from 30 September 2024 until 30 December 2024 (including) is 8.431%. The coupon for this period will be paid on 2 January 2025.

Mapon has appointed board member Davis Siksnans as the company's CEO. Former co-CEOs Ingus Rukis and Andris Dzudzilo will continue to serve on the Mapon board and management team as Chief Technology Officer and Chief Sales Officer, respectively. 

"I am truly grateful for the trust placed in me by Mapon's shareholders in appointing me as CEO. It has been a pleasure to witness Mapon's revenue grow sixfold over the past eight years under the leadership of Ingus Rukis and Andris Dzudzilo, establishing the company as a leading provider of fleet management and tracking solutions in Northern Europe. The transportation and logistics industry is rapidly digitizing worldwide, and I believe Mapon has the necessary elements to become the European market leader. One of my priorities will be strengthening the Mapon team," says Davis Siksnans. In addition to his new role as CEO of Mapon, Siksnans will continue to lead the investment company Draugiem Capital. He has been with Draugiem Group, a Latvian technology startup factory, for 15 years, 10 of which he spent as the CEO and co-founder of Latvia’s first unicorn, Printful. 

"Together with Andris, we have led Mapon for eight years and have significantly expanded the company's market share. We need a leader with experience securing substantial investments to guide the company through its next development phase. Davis has already been actively involved in driving various strategic initiatives as a member of the Mapon board for the past two years, and we are pleased that he will now take on the responsibilities of a CEO," says Ingus Rukis, Mapon's Chief Technology Officer. 

Mapon's Chief Financial Officer Aleksei Avanessov, who oversees the company's financial matters and acquisitions, and Edmunds Riekstins, who supervises all Draugiem Group companies, will continue to serve on the Mapon board.

Mapon Estonia and CarCops have completed the merger procedure on 27 June 2024. The changes in ownership are reflected in the Business Register. CarCops has already been operating as Mapon Estonia since June 1, 2024, but now the process is finalised from a legal perspective.

Mapon announces fixing coupon rate for a floating-rate bond effective from 30 June 2024. 

Mapon bonds with ISIN LV0000860161, coupon of 5% + 3-month EURIBOR, maturity on 8 March 2027, new coupon rate for period from 30 June 2024 until 29 September 2024 (including) is 8.698%. The coupon for this period will be paid on 30 September 2024.

Mapon has acquired 100% of the fleet management solutions company Trackon Fleet Management UAB, which will be known as Mapon Lithuania from now on. This acquisition will strengthen Mapon's position in Lithuania and the overall Baltic market, as well as significantly expand the company's client portfolio. 

Mapon expects that the combined turnover in the Lithuanian market will reach up to 1 million euros and that over 40,000 vehicles will use our fleet management solutions. Both Mapon and Trackon are committed to delivering high-quality services, ensuring efficient resource and fuel management, as well as improving road safety and promoting sustainable corporate governance.

Mapon Estonia and CarCops have initiated a merger procedure that is expected to be finalized by the end of June 2024, whereas CarCops will operate as Mapon Estonia starting from 01.06.2024. 

From an organizational point of view, both companies have been working as one team in a shared office space since mid-2023. This step is required to combine the teams from a legal perspective.