Idevio, which develops advanced map programs for industry and defense, was sold in 2017 to business intelligence firm Qlik. The purchase price has not been made public, but it was a successful investment for Almi Invest, which had been a co-owner of Idevio since 2006.
Gothenburg-based Idevio develops software for map visualization, address searches and route calculations based on patented technology for compressing and streaming digital maps. The software is unique in that it can handle large quantities of data and function as a user-friendly decision aid using analyses and visualizations.
Just as Google simplifies the process of searching online, Idevio makes the map function simple and helps the customer solve their business problem. Idevio’s programs are used for applications within defense, mobile technology and online for everything from workstations to mobile phones and handheld devices.
Almi Invest invested in Idevio in 2006. Almi Invest’s Mats Enegren had heard about the highly motivated team at Chalmers incubator with a product that was ahead of its time.
- It took some time to convince them to accept venture capital. Our capital investment at an early stage gave them peace of mind and enabled them to continue developing their product.
Idevio’s map program can be customized and it came to the attention of Qlik back in 2009, when both companies entered into a partnership. Qlik was founded in Sweden but is now based in the US. Qlik is a leading business intelligence company with software that compiles data that the customer has stored in different places and in different formats, analyses it and presents it in a way that is easy to grasp.
The purchase of Idevio strengthens Qlik’s map offering and allows Qlik’s customers to add maps with automatic geodata to gain access to important geographical information and improve their source material for decision making. IdevioMaps now markets its product under the name Qlik GeoAnalytics.
- It’s fantastic that Idevio is now able to continue developing within Qlik, a high-tech company founded in Sweden that has experienced considerable international success,” says Mats Enegren, Investment Manager at Almi Invest. We’re extremely satisfied with our investment in Idevio.