GPS Bulgaria completed the acquisition of Mobiliz from Mediterra Capital for $23m.

GPS Bulgaria, a Bulgarian provider of technologically advanced GPS/GSM based solutions, completed the acquisition of Mobiliz from Mediterra Capital, a private equity firm, for $23m. "Thanks to Turkey’s vast IT and engineering talent, the acquisition of Mobiliz will allow us to speed up the deployment of new applications, to reduce time to market and to further expand to adjacent countries, Europe, Asia and Africa. It is our ambition to play a key role in the innovations for the automotive industry based on big data analyses and development of Industry 4.0 and 5G applications. With the acquisition of Mobiliz we have under management more than 450 000 vehicles in 3 countries of operations – Turkey, Bulgaria and North Macedonia and 12 countries through partnershipsEgypt, Azerbaijan, Germany, Austria, Bahrain, Kuwait, Iraq, Saudia Arabia, UAE, Nigeria, Oman and Qatar,” Nikolay Kichev, GPS Bulgaria Chairman of the Board.