Through the acquisition, AddSecure enters into the growing telecare market, and sets up new business area; Smart Care.
AddSecure, a leading European provider of premium solutions for secure critical communications and data, announced today that it has completed the acquisition of Stella Safety Phone business, the market leader in telecare services in Finland.
The acquisition enhances and expands AddSecure’s strategic growth journey and drive long-term value. With the Stella Safety Phone business in its portfolio, the company enters the growing market for technology-enabled care services.
AddSecure creates new business area Smart Care
The new market offering, Smart Care, provides 200 municipalities and 52 000 end-customers in Finland with smart solutions and support services that combine human care with reliable and safe technology. Elderly and people with memory disorders benefit from reliable care and independent living, where the safety and security is assured 24 hours a day through a certified alarm receiving center (ARC).
“With AddSecure’s secure communications solutions and broad experience of life- and business-critical applications, it is a logical next step for us to enter the growing telecare market. We will now gather expertise and resources in this new business area to offer solutions that meet the specific needs within digital care,” said Ståle Moe, Deputy CEO at AddSecure and the appointed Head of Smart Care.
“We are very excited to come together with AddSecure,” said Kaj Ignatjew, Business Unit Director of Stella Safety Phone and appointed Managing Director for AddSecure Smart Care, Finland. “Our customers will be the ultimate benefactors of this transaction, as we aim to drive closer relationships with our customers and deliver solutions that really address the challenges they are facing today and tomorrow.
The acquisition of the Stella Safety Phone business unit is AddSecure’s eleventh acquisition and its first investment within the digital care sector, backed by the new owners Castik.
AddSecure is a leading European provider of premium solutions for secure data and critical communications. The company serves over 100 000 customers and partners around Europe with secure communications and solutions that help customers safeguard their life- and business-critical applications. This helps save lives, protect property and vital societal functions, and drive business. AddSecure serves customers in the security and safety industry, in building security and automation, in digital care, in transport and logistics, in utilities and smart cities, and more. Customers are provided with solutions within Smart Alarms, Smart Care, Smart Grids, Smart Rescue, and Smart Transport. The company, founded in the early 1970s, today employs more than 550 staff in 12 countries. AddSecure is headquartered in Sweden, and has regional offices as well as a network of distributors around Europe. AddSecure is majority-owned by Castik Capital, a European private equity fund with a long-term approach to value creation, founded in 2014.