The private equity firm Norvestor has sold ABAX to Investcorp for USD 210 million, including debt.

The team that assisted Norvestor was headed by Anders Arnkværn; the other team members were Solveig Fagerheim Bugge, Nicolai Julsvoll and Kai-Ståle Kristiansen.

ABAX sells and develops vehicle tracking technology. The company has 350 employees with business operations in eight countries.