Finance & Legal

Bosch & Conti Acquire Each a 5% Stake in HERE - 01/09/2018

Bosch and Continental have announced last week they have each acquired a 5 percent stake in mapping technology company HERE. “Bosch is more than cars,” said Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH. “Industry 4.0,...

OBD Port Access Saved by EU Regulation - 12/19/2017

A European regulation will states that car makers should provide third parties unrestricted access to vehicle On-Board Diagnostic (OBD) Port. On December 7th the European Parliament, the Council and the Commission reached a political agreement on a...

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...
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