Viasat Group is the new majority shareholder of Cefin Systems Romania
Viasat Group, one of the top companies in the telematics industry in Europe, recently acquired the majority stake (54.55%) in Cefin Romania Systems – a leading name in the domestic market for GPS monitoring products, dedicated to fleet management. The official announcement was made Tuesday, June 30, during a joint press conference.
With this partnership, Viasat Group will add the Cefin Systems brand – CS Fleet – to their international telematics network.
“The market in Romania is a promising segment. When investing in foreign markets, our strategy is to target companies with a strong local management which are able to grow and develop. We need sustainable partnerships. Efficiency and safety are important values for our group. In Romania, we have been working with Cefin Systems for many years, and this has made the acquisition process to flow more easily, “said Massimo Getto, Vice President of Viasat Viasat Group and Cefin Systems Romania.
In turn, Cati Mocanu, general manager of Cefin Systems Romania, said that the merger with Viasat Group has occurred precisely because the two companies have always had the same concept in terms of fleet management.
“We are proud to confirm that after nearly 10 years of collaboration, Cefin Systems has become a member of the Viasat ” family “, leader in the telematics world. This partnership opens new opportunities in the Romanian market for telematics; particularly for GPS solutions dedicated to insurance companies. We are excited but also prepared to meet the new challenges, together with our new partners from Viasat Group. “- General Director of Cefin Systems Romania, Cati Mocanu, declared.
According to her, an innovative product based on GPS technology, but specially designed for auto insurance companies, will be launched in the near future, along with the Italian partners.
“We are currently in the research and testing phase for a new product aimed at the auto insurance industry. The difficult situation in this market requires a proper management solution. Our objective is to develop an innovative and performant service addressed directly to the management of the insurance companies, not just to the end customer. We want to come up with a viable solution for this entire area. We benefit from the experience of our Viasat partners. It is a direction that we are going to follow in the future and we hope that our new product will enter the insurance market in Romania before 2017 “, adds Cati Mocanu.
For Viasat, the acquisition of the majority stake in Cefin Systems Romania is the first stage of its development plan on the Eastern European market, where the Italian group plans to invest between 10 and 15 million over the next three years.
Viasat Group currently has about 600,000 devices installed on vehicles throughout Europe. In 2014 the company’s turnover was 45 million euros, and forecasts for this year anticipate a turnover of 55 million. By the end of this year, we intend to make three more additional acquisitions in Europe because the market offers new opportunities. Our customers are global and need global partners, “says Massimo Getto, Vice President of Viasat Group and Viasat Systems Romania.
The internationalization of Viasat Group is a continuous process. It started in 2013 with the creation
Of Viasat Servicios Telemáticos in Spain and continued in 2014 with the acquisition of 70% of Enigma Vehicle Systems Limited, leader in the UK telematics market.
The acquisition of the majority stake in Cefin Systems Romania by Viasat Group Italia has been managed by Advisory Nash, who led similar actions on behalf of Viasat in Spain and the United Kingdom.
Cefin Systems Romania offers integrated services based on GPS technology that allow precise fleet management. The solution is suitable for many industries such as transportation, distribution, construction, service, sales, etc.
Viasat Group Italy operates in the telematics solutions market since in 1974, having a portfolio of over 500,000 customers and being present in many countries,, like Italy, England, Spain and Romania. Viasat Group products cover areas such as security, insurance and fleet management.