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CalAmp Corp. (NASDAQ:CAMP) - Spireon Acquires CalAmp's US Stolen Vehicle Recovery Business For Undisclosed Sum


CalAmp Corp’s (NASDAQ: CAMP) LoJack U.S. Stolen Vehicle Recovery (SVR) business. The financial terms of the transaction were not disclosed.
The integration of the LoJack U.S. business boosted Spireon’s position as the provider of aftermarket telematics for automotive dealers while supporting CalAmp’s focus on its strategic global software-as-a-service (SaaS) initiatives.
The combination created a powerful platform for continued innovation for auto dealers and consumers, as per Spireon CEO Kevin Weiss.
Spireon enabled CalAmp to seamlessly transition customers to a leading provider of aftermarket GPS and sensor-based telematics, as per CalAmp CEO Jeff Gardner.
CalAmp would continue to expand LoJack International, which operated as a subscription-based SaaS business. CalAmp would also retain ownership of the LoJack patents and trademarks. ....

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Spireon Acquires CalAmp's LoJack® U.S. Stolen Vehicle Recovery Business


IRVINE, Calif., March 16, 2021 /PRNewswire/  
CalAmp (Nasdaq: CAMP), a global technology solutions pioneer transforming the mobile connected economy, and Spireon, the vehicle intelligence company, today announced that Spireon has acquired the LoJack
® U.S. Stolen Vehicle Recovery (SVR) business from CalAmp. The integration of the LoJack U.S. business bolsters Spireon s position as the leading provider of aftermarket telematics for automotive dealers, while supporting CalAmp s focus on its strategic global software-as-a-service (SaaS) initiatives.
Spireon s decision to acquire the LoJack U.S. business reinforces our longstanding commitment to deliver 24×7 asset visibility and actionable insights that boost profits, protect assets and increase safety and productivity, stated Kevin Weiss, CEO of Spireon. The combination of LoJack s brand equity with Spireon s modern technology and award-winning customer service and support creates a powerful platform for continue ....

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