Swedish company Telia has purchased FältCom, a Umeå-based startup. FältCom has been active in the Nordic market for online public transport. It is the market leader in Scandinavia for mobile platforms on buses, and all speed cameras in Sweden are equipped with FältCom technology. The company has about 40 employees and had sales in 2016 of €8.8 million.

In 2010, the Industrial Development Fund and SEB Venture Capital were the principal owners. But now the two owners have sold their holdings to Telia.

“We are very pleased to have found a buyer with high industrial competence and a position that will prop FältCom continued global growth journey,” says Per Anell, investment manager at the Industrial Development Fund, as reported by Di Digital.

“It is entirely in line with our goals to find digital solutions to societal challenges such as climate change, while also helping to improve the urban environment,” said Brendan Ives, director of operations at Telia, in a statement.

Read more: Di Digital

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