CalAmp

From Wikipedia, the free encyclopedia
CalAmp
TypePublic
Nasdaq: CAMP
S&P 600 Component
IndustryTelematics, SaaS and IoT
Founded1981; 40 years ago (1981)
Headquarters
Irvine, California
,
U.S.
Key people
Jeff Gardner (CEO)
ProductsCalAmp Telematics Cloud, iOn Telematics Services, CrashBoxx, iOn Tags, iOn Vision, LoJack, LoJack SureDrive, LoJack LotSmart, Telematics Devices, Here Comes The Bus, Bus Guardian
Revenue
  • Increase US$ 366.1 million (2020)[1]
  • Increase US$ 363.8 million (2019)[1]
Number of employees
1,080 (May 2020)[1]
Websitecalamp.com

CalAmp is an Irvine, California-based provider of Internet of things (IoT) software applications, cloud services, data intelligence and telematics products and services. The company's technology includes edge computing devices and SaaS-based applications for remotely tracking and managing vehicles, drivers, cargo and other mobile assets. The company also owns the patents and trademarks for the LoJack Stolen Vehicle Recovery System and provides connected car and lot management products.[2]

History[]

CalAmp was founded as California Amplifier Inc. in Newbury Park, California in 1981, by Jacob Inbar and David Nichols, who worked together at a microwave division of Eaton Corporation.[3] The company originally made amplifiers and other equipment used to transmit microwave signals for satellite video and broadband communications.[4][5][6] The company began trading on NASDAQ in 1983.[6][4]

By 1986, the company had relocated to Camarillo, California, and stopped making amplifiers for the consumer market.[3]

In 1999, the company entered the direct broadcast satellite (DBS) market by acquiring Texas-based Gardiner Group, a satellite dish component provider.[6]

In December 2003, the company acquired communications software company Vytek Corp, for $76.8 million.[7]

In March 2004, the company relocated to Oxnard, California.[8] In August, the company changed its name to CalAmp Corp.[9]

In May 2006, the company acquired Montreal, Canada-based wireless radio company Dataradio, to expand its wireless data communications business for public safety and machine to machine (M2M) applications.[10] It also acquired the mobile resource management line from Carlsbad, California-based location tracking company TechnoCom to offer enterprise asset tracking and fleet management applications.[11]

In 2007, the company acquired the Aercept Vehicle Tracking business from wireless telematics service provider AirIQ.[12]

By 2010, the company was focused on selling IoT hardware and DBS solutions.[2]

In December 2012, the company announced the acquisition of Herndon, Virginia-based fleet management application provider Wireless Matrix Corp for $53 million.[13]

In February 2013, the company announced a stock offering that was intended in part to fund the Wireless Matrix Corp purchase.[14]

In April 2015, CalAmp bought telematics startup Crashboxx, a provider of a vehicle risk management system for insurance companies and fleet operators.[15]

By 2016, the company had phased out its DBS business and shifted its focus to SaaS-based telematics products and services.[2] In February, CalAmp announced it was acquiring stolen vehicle recovery company LoJack Corporation, for $134 million, and the deal closed in March.[16][17] In April, the company announced it was moving its headquarters from Oxnard to Irvine, California.[18] In September, the company introduced the LoJack LotSmart automotive dealer inventory management solution and LoJack SureDrive connected car app.[19]

In January 2019, the company launched a smartwatch-sized pet tracking device called Maven, in conjunction with logistics software company CargoSense.[20] In March 2019, the company acquired two LoJack licensees, Car Track in Mexico, and Tracker in the United Kingdom.[21] In April, the company acquired fellow telematics provider Synovia Solutions for $50 million.[22] In March 2020, CEO Michael Burdiek retired, and was replaced by Jeff Gardner.[23]

Products and services[]

The company combines connected telematics products and cloud technology with Software as a Service (SaaS) applications to collect and assess data from mobile assets, cargo and companies. Telematics services for specific tasks are delivered through the company's applications or as standalone services.[1]

  • Connected telematics devices - the company develops wireless telematics devices that capture and report information from remote and mobile assets. These include asset tracking units, mobile telematics devices, and fixed and mobile wireless gateways and routers that support CalAmp and third party software applications.
  • SaaS applications - the company's SaaS products include a range of applications designed for connected fleet and asset management, supply chain and automotive markets. The CalAmp Telematics Suite of applications are used for private and public fleet and asset management, as well as the SC iOn Command Portal, designed for supply chain visibility.[24][25] Applications also include the flagship LoJack Stolen Vehicle Recovery System, and brand extensions LoJack LotSmart, an inventory management system for automotive dealers, and LoJack SureDrive, a consumer connected car application that alerts owners when their car is moved.[19][1]
  • Telematics services - the company's telematics services include Crashboxx, a crash response service that provides crash alerts and accident reconstruction reports for insurance companies and fleet operators,[15] CalAmp iOn Tag service, that helps fleet operators keep track of tools and other service equipment, and CalAmp iOn Vision, which provides video insights to help companies monitor and assess driver behavior.[26] Other telematics services include predictive maintenance and a Driver Behavior Scorecard to allow fleet managers to coach for better driving habits.[27]
  • CalAmp Telematics Cloud platform (CTC) - CalAmp's CTC platform is used to deploy the company's telematics applications and services. The platform collects and reports real-time data from its telematics devices and sensors, for fleet, asset and cargo management.[28] Application Programming Interfaces (APIs) allow third party application integration, and the platform also supports integration with Mobile Network Operators.
  • Synovia - CalAmp's Synovia subsidiary develops subscription-based fleet management services for government and k-12 school districts, develops the Here Comes The Bus school bus tracking mobile application for school districts, and also develops Bus Guardian, to help schools with contact tracing and bus hygiene.[22][29]

LoJack Corporation[]

LoJack Corporation
TypeCorporation
IndustryVehicle tracking, vehicle recovery
FoundedMassachusetts (1986)
HeadquartersCanton, MA, U.S.
Area served
Worldwide
ParentCalAmp Corp.
Websitewww.lojack.com

LoJack Corporation was founded in 1986 in Medfield, Massachusetts, by William Reagan, a former Medfield police commissioner.[30] Reagan had patented the LoJack system in 1979, and chose its name to imply the opposite of "hijack". The system used a hidden car-mounted transceiver, and a tracking computer installed in police cars and aircraft, operating on a dedicated tracking frequency set aside by the Federal Communications Commission. Reagan served as the company's first CEO and Chairman.[30]

In 1998, the company began offering its tracking system to the heavy machinery and construction industry, including entering into an agreement with Caterpillar.[31]

In March 2012, the company moved its headquarters to Canton, Massachusetts.[32]

By 2013, the LoJack system was reportedly operating in 28 states and the District of Columbia and in more than 30 countries. The company reported that more than 1,800 U.S. law enforcement agencies had LoJack tracking computers in their police vehicles.[30] In November 2013, the company announced they were expanding tracking capabilities to parents, auto makers and insurance companies.[33]

In March 2016, CalAmp acquired the LoJack company for $134 million.[34]

On March 16, 2021, vehicle intelligence company Spireon announced that it had acquired the LoJack U.S. Stolen Vehicle Recovery business from CalAmp, joining LoJack users with "nearly 4 million active subscribers from over 20,000 current Spireon customers".[35] CalAmp would still retain and continue to expand LoJack International, which operates as a subscription-based SaaS business, while also retaining ownership of the LoJack patents and trademarks.

References[]

  1. ^ Jump up to: a b c d e "CalAmp 2020 Annual Report Form (10-K)" (PDF). secfilings.nasdaq.com. 2020-05-05. Retrieved 2020-09-30.
  2. ^ Jump up to: a b c "Where Will CalAmp Corp. Be in 5 Years?". fool.com. 2017-12-30. Retrieved 2018-09-05.
  3. ^ Jump up to: a b "Restructuring After Brush With Bankruptcy : Amplifier Firm Forced to Retune". latimes.com. 1986-07-20. Retrieved 2018-09-05.
  4. ^ Jump up to: a b "sec news digest" (PDF). sec.gov. 1983-10-13. Retrieved 2018-09-05.
  5. ^ "CalAmp Move from Oxnard Adds to Tech Sector Here". Orange County Business Journal. 2013-02-12. Retrieved 2018-09-05.(subscription required)
  6. ^ Jump up to: a b c "California Amplifier Stays Prepared". latimes.com. 2002-12-02. Retrieved 2018-09-05.
  7. ^ "California Amplifier Agrees to Buy Vytek". latimes.com. 2003-12-24. Retrieved 2018-09-05.
  8. ^ "California Amplifier to Webcast Management Discussion of Vytek Corporation Pending Acquisition" (PDF). cloudfront.net. 2004-03-10. Retrieved 2018-07-13.
  9. ^ "California Amplifier: Call Us CalAmp". Multichannel News. 2004-08-04. Retrieved 2018-09-05.
  10. ^ "CalAmp Completes Dataradio Buy For $54M". socaltech.com. 2006-05-30. Retrieved 2018-09-05.
  11. ^ "CalAmp acquires M2M from TechnoCom". rcrwireless.com. 2006-05-30. Retrieved 2018-09-05.
  12. ^ "CalAmp Licenses Patents For Vehicle Location Technology To SKYWATCH GPS". gpsdaily.com. 2008-02-06. Retrieved 2018-09-05.
  13. ^ "CalAmp (CAMP) to Acquire Wireless Matrix in $53M Deal". streetinsider.com. 2012-12-20. Retrieved 2018-09-05.
  14. ^ "CalAmp to offer 4.2M shares to fund acquisition". pacbiztimes.com. 2013-02-12. Retrieved 2018-09-05.
  15. ^ Jump up to: a b "CalAmp buys insurance telematics startup Crashboxx". seekingalpha.com. 2015-04-20. Retrieved 2018-09-05.
  16. ^ "LoJack Agrees to $134 Million Sale to CalAmp". wsj.com. 2016-02-01. Retrieved 2018-09-05.
  17. ^ "BRIEF-CalAmp completes acquisition of Lojack; sees q4 EPS of about $0.32". reuters.com. 2016-03-21. Retrieved 2018-09-05.
  18. ^ "Wireless firm CalAmp to shift HQ to Irvine from Oxnard". ocregister.com. 2016-04-20. Retrieved 2018-09-05.
  19. ^ Jump up to: a b "Connected-car peace of mind now on tap with LoJack's SureDrive car security platform". digitaltrends.com. 2016-09-07. Retrieved 2018-09-05.
  20. ^ "Pet Tracking Device a New Market for CalAmp". Orange County Business Journal. 2019-01-28. Retrieved 2019-01-29.
  21. ^ "CalAmp acquires Car Track and Tracker to accelerate global expansion of connected car services". Asset Finance International. 2019-03-04. Retrieved 2020-09-30.
  22. ^ Jump up to: a b "CalAmp Acquires Synovia for $50M". The Automotive Fleet. 2019-04-15. Retrieved 2020-09-30.
  23. ^ "CalAmp Names Jeff Gardner CEO". Orange County Business Journal. 2020-07-08. Retrieved 2020-09-30.
  24. ^ "Telematics for Connected Asset Management". mhlnews.com. 2017-09-21. Retrieved 2018-09-05.
  25. ^ "Companies Testing IoT System When Goods Are 'On the Road'". rfidjournal.com. 2018-01-24. Retrieved 2018-09-05.
  26. ^ "Construction Technology and Software Rundown: March 13, 2020". Construction Executive. 2020-03-09. Retrieved 2020-07-16.
  27. ^ "CalAmp Reports Telematics Milestone". automotive-fleet.com. 2018-06-22. Retrieved 2018-09-05.
  28. ^ "Chevin, CalAmp Partner for Integrated Telematics Data". automotive-fleet.com. 2016-09-14. Retrieved 2018-09-05.
  29. ^ "Software keeps kids on school buses safe from sickness". Indianapolis Business Journal. 2020-08-21. Retrieved 2020-09-04.
  30. ^ Jump up to: a b c "LoJack Founder William Reagan, 78, Passes Away". twice.com. 2013-07-08. Archived from the original on September 6, 2018. Retrieved 2018-09-05.
  31. ^ "LoJack Corporation History". fundinguniverse.com. Retrieved 2018-09-05.
  32. ^ "LoJack secure in its new home in Canton". patriotledger.com. 2012-03-09. Retrieved 2018-09-05.
  33. ^ "LoJack system will allow parents, auto makers and insurance companies to track vehicles". computerworld.com. 2013-11-25. Retrieved 2018-09-05.
  34. ^ "LoJack Agrees to $134 Million Sale to CalAmp". wsj.com. 2016-02-01. Retrieved 2021-08-06.
  35. ^ "Spireon Acquires CalAmp's LoJack® U.S. Stolen Vehicle Recovery Business". prnewswire.com. 2021-03-16. Retrieved 2021-08-06.

External links[]

Retrieved from ""