SOURCE: CalAmp Corp.

CalAmp Corp.

January 27, 2015 16:01 ET

CalAmp Introduces LenderOutlook Vehicle Finance Solution for Motorcycles

New GPS-Based Solution Provides Comprehensive Asset Tracking, Easy Installation and Advanced Battery Management for Subprime Lenders and BHPH Dealers With Motorcycle Customers

OXNARD, CA--(Marketwired - Jan 27, 2015) - CalAmp (NASDAQ: CAMP), a leading provider of wireless products, services and solutions, today announced a new vehicle finance solution for motorcycles, featuring the new CMF-1175 telematics device. The new device is ruggedized and water resistant for exterior mount applications and integrates seamlessly with the LenderOutlook™ application, as part of a full range of collateral assurance solutions that support CalAmp's growing customer base of subprime lenders and Buy Here Pay Here (BHPH) dealers.

The new offering brings dealers and lenders a GPS-based solution that is easy to install and ideal for motorcycle deployments. Requiring only a simple power and ground connection, the new LenderOutlook solution eliminates the need for more complicated ignition-based installation. With CalAmp's highly sensitive GPS and patent-pending triple axis accelerometer technology, motorcycle assets can be reliably monitored and tracked for the duration of the loan. Furthermore, utilizing the accelerometer to detect motion enables extensive power management efficiency and minimizes battery drain even when the motorcycle is parked for extended periods of time. Coupled with the built-in battery back-up feature, this new solution enables reliable communications even in the case of tampering or attempted removal of the device.

Lenders and BHPH dealers can access the powerful new features of the motorcycle solution through LenderOutlook, CalAmp's market-leading application that is used broadly across the automotive subprime lending and BHPH markets. The motorcycle offering also benefits from CalAmp's exclusive technology which delivers advanced over-the-air device management and support as well as its unique dual-processor architecture that maximizes success rates for asset recovery.

"CalAmp continues to lead the market and provide high-value, innovative asset management technologies," said Michael Zachan, Senior Vice President and General Manager of CalAmp's Wireless Networks business. "We have set the industry's benchmark for comprehensive services that provide reliable, easy-to-use vehicle location and asset protection. Prior to this offering, lenders and BHPH dealers have not had access to high-quality collateral assurance solutions specifically for the motorcycle 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 remote assets. For more information, please visit www.calamp.com.

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:
    Justin Schmid
    Sr. VP of Marketing and Business Development
    (805) 987-9000

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