SOURCE: CalAmp Corp.

CalAmp Corp.

November 13, 2015 09:00 ET

CalAmp Announces Strategic Investment in SmartDriverClub

CalAmp Invests in UK Technology Startup Created to Provide Extensive Connected Car Services and Innovative Insurance Offerings to Club Members Leveraging Aftermarket Telematics Solutions

OXNARD, CA--(Marketwired - Nov 13, 2015) - CalAmp (NASDAQ: CAMP), a leading provider of wireless products, services and solutions, today announced a strategic seed investment in SmartDriverClub Limited, a new technology and insurance startup leveraging state-of-the-art telematics to bring broad connected car services and value-added applications to consumers and dealers through new and used auto dealerships in the United Kingdom.

SmartDriverClub was founded by an experienced team of telematics industry experts with an innovative strategy to provide a new class of value-added automotive and insurance services that are designed to simplify club members' lives, achieve cost savings and create long-lasting relationships between consumers and a broad array of service providers.

"We have been working with telematics solutions in the UK for over seven years and believe we have identified an opportunity to deliver services more effectively, particularly for insurance and value-added applications. When we decided to launch SmartDriverClub we were fortunate to find a great partner in CalAmp who shared our vision and were keen on being a strategic partner in our mission to change the way drivers use telematics services," said Penny Searles, CEO of SmartDriverClub. "CalAmp has been very engaged and supportive of the team."

Commenting on the strategic investment, Michael Burdiek, President and Chief Executive Officer of CalAmp, said, "We are thrilled to announce the investment in SmartDriverClub. Their core team includes pioneers in the insurance telematics space, with an exciting vision for ways in which the automotive industry sales channels can leverage telematics data to successfully bring innovative solutions that offer long term value to customers and partners in the UK market."

About CalAmp
CalAmp (NASDAQ: CAMP) is a proven leader in providing wireless communications solutions to a broad array of vertical market applications and customers. CalAmp's extensive portfolio of intelligent communications devices, robust and scalable cloud service platform, and targeted software applications streamline otherwise complex Machine-to-Machine (M2M) deployments. These solutions enable customers to optimize their operations by collecting, monitoring and efficiently reporting business critical data and desired intelligence from high-value mobile and remote assets. For more information, please visit www.calamp.com.

About SmartDriverClub
SmartDriverClub (SDC) provides club membership programmes to the UK Motor Industry utilising telematics data collected from the car via OBD devices, which enables valuable services for the member such as Crash Assistance, Theft Tracking and individual deals and offers to be presented to the customer via smartphone applications and web portals. The programme also reports the information to the motor industry players to help them retain and enhance their customer relationships, offering immediate assistance on repairs, or help with the purchase of the next vehicle in the home. The SDC team have several years of experience in collecting the data efficiently from vehicles and more importantly turning the data into meaningful conversations for clients and customers.

CalAmp and the arc logo are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

Contact Information

  • AT THE COMPANY:
    Garo Sarkissian
    Sr. VP of Corporate Development
    (805) 987-9000

    AT ADDO COMMUNICATIONS:
    Lasse Glassen
    General Information
    (424) 238-6249
    Email Contact