M&A #4 – Kontron acquires Altimate – an urban and interurban mobility solutions provider

18.09.2023 | Austria

Kontron has announced the acquisition of Altimate, a Romanian company for urban and interurban mobility solutions. Altimate generated revenues of EUR 19.6 million and an EBITDA of EUR 1.8 million in 2022. The purchase price is EUR 11.64 million. This acquisition is another addition to our fast-growing high-margin segment “Software + Solutions” and further strengthens the transportation business.

Altimate is a market leader in urban and interurban mobility solutions with over 20 years expertise offering software products and solutions for urban traffic control, automated fare collection, tolling solutions, and traffic violations solution. Its diversified portfolio serves a broad customer base in various areas such as airports, maritime ports, public transport, and tolling. It employs 191 employees, mainly software engineers with excellent knowledge in intelligent traffic solutions.

Altimate currently operates in Romania with a footprint in Poland and Bulgaria. In 2022, total revenues were about EUR 19.6 million at a gross margin of over 50%. EBITDA came in at EUR 1.8 million. For the future “Software as a Service” and “Mobility Infrastructure as a Service” type of projects are a major focus. High synergies arise from the integration into our transportation business to market those complementary software products all over Europe. For 2024 we expect more than EUR 25 million in revenues at an EBITDA margin exceeding EUR 3 million.

For Kontron, this acquisition is another step to expand its fast-growing high-margin business segment “Software + Solutions”. It amounts to currently below 20% of Kontron’s revenues. Together with its recent acquisitions and the existing transportation and susietec® business, it will turn into the biggest segment by 2025 and will have a revenue share of more than 50% by 2027.

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