Swedish network video giant Axis Communications has announced the acquisition of Prague-based software developer FF Group. With the acquisition of FF Group, Axis aims to significantly strengthen its position in the rapidly growing market for smart traffic solutions.
“The market for traffic applications is growing. Acquiring FF Group will strengthen our competitiveness, knowledge, and capabilities in license plate verification, further solidifying our leadership in the industry,” says Axis Communications CEO Ray Mauritsson.
FF Group has been a valued partner to Axis since 2017, delivering competitive and innovative applications, as well as expert knowledge. “I’m very pleased to welcome FF Group to Axis, and I am confident that this acquisition will drive value creation for our customers,” says Ray Mauritsson.
Now that the acquisition is complete, the integration process will now be initiated for FF Group to join the Axis organisation. Axis emphasizes that during this integration phase, the focus will be on ensuring business continuity for both organizations’ customers. Financial details of the acquisition have not been disclosed.
