Finance & Legal

Connected Car Platform Zubie Raised Additional $6M - 05/25/2016

Zubie, a connected-car platform and telematics provider, today announced it has secured $6 million in additional funding. Melody Capital Partners, along with existing Zubie investors OpenAir Equity Partners, Castrol innoVentures, Comporium, Nokia...

ABAX Acquires Swedish Telematics Companies - 05/10/2016

Fleet management system vendor ABAX has announced the acquisition of two Swedish companies: Accessor Sverige AB and Ctrack Sweden AB, its sixth and seventh acquisitions in Europe since 2014. The acquisitions will add around 10,000 vehicles to ABAX’s...

TeleNav Revenue up 9%, Loss up 51% in Q1 2016 - 05/10/2016

TeleNav announced last week their financial results for the first quarter of 2016 (their third quarter of fiscal 2016) posting a total revenue of $46.3 million, compared with $42.3 million in the third quarter of fiscal 2015. Telenav’s automotive...

Garmin Revenue up 7% to $624M in Q1 2016 - 05/05/2016

Garmin published last week their financial results for the first quarter of 2016 with a total revenue of $624 million, growing 7% over the prior year, with outdoor, fitness, aviation and marine collectively growing 17% over the year ago quarter and...

TomTom Revenue up 6% in 1Q 2016 - 04/19/2016

GPS maker TomTom announced today €217.2 million in revenue in the first quarter of 2016, up 6 percent. The net result for the quarter was €4.8 million, which translates to adjusted earnings per shareof €0.03. TomTom maintained their full year...

Koolicar Raised €18M for P2P Car Sharing - 04/05/2016

French peer-to-peer car sharing startup Koolicar announced today a financial round of €18 million. PSA Peugeot Citroën took part in the capital increase alongside MAIF, Koolicar's historic partner since 2010. The previous round of funding was made...

INRIX Acquires Automotive Software Supplier OpenCar - 03/09/2016

Automotive traffic and parking data supplier INRIX has announced the acquisition of OpenCar, a U.S.-based automotive software and services provider. OpenCar, backed for the last five years by a strategic partnership with Mazda, offers a white label,...

AND Posts Revenue of €6M, Profit of €3.2M in 2015 - 03/01/2016

Dutch digital map vendor AND announced preliminary, unaudited revenue of €6.0 million and profit of €3.2 million for the year 2015. AND realizes a strong growth in revenue and profit compared to 2014 (revenue of €4.8 million and a profit of €2.6...

Novatel Sells Hardware Telematics Business to Micronet Enertec - 02/19/2016

Micronet Enertec, a manufacturer of rugged computers and tablets has announced yesterday the acquisition of the hardware telematics business of Novatel Wireless for a total purchase price of $24 million. Novatel Wireless and Micronet Enertec will...

Garmin Q4 2015 Revenue Drops 3%, Full year down 2% - 02/18/2016

In the last quarter of 2015 Garmin revenue dropped three percent ($781 million) the company disclosed yesterday in their call with financial analysts. For the full year the revenue was down two percent ($2,820 million). Gross and operating margins...

TomTom Grew Revenue in 2015, First Time in 5 Years - 02/09/2016

GPS maker TomTom today announced for the last quarter of 2015 a revenue of €282 million, up 9 percent, while the EBIT margin was 0%, down from 1 percent in the last quarter of 2014. For the whole year the revenue has increased 6% at 1,007 million....

Telenav: $45.3M Revenue and $6.6M Loss in Q4 2015 - 02/04/2016

Telenav announced this week their financial earnings for the quarter ended December 31, 2015 (second quarter of their fiscal year 2016). Total revenue was $45.3 million, compared with $44.1 million in the first quarter of fiscal 2016 and $39.8...
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