Telogis Acquires Insurance Telematics and Fleet Management Business from UTC Fire & Security
November 7, 2011Telogis Inc., a platform for location intelligence company, has acquired the insurance telematics and fleet management business of UTC Fire & Security, a division of United Technologies Corporation. The acquisition expands Telogis’ presence in the insurance market through the addition of Onboard Advisor, a Safety-Driven Insurance service focusing on loss prevention and risk reduction provided exclusively by Liberty Mutual Agency Corporation, Telogis said.
“This acquisition positions Telogis for growth in insurance telematics by accelerating our ability to leverage our robust enterprise software platform into UTC’s Onboard Advisor and Navlogix subscriber base,” said Dave Cozzens, chief executive officer of Telogis. “The insurance telematics market is growing rapidly and there is a great opportunity to apply our advanced location intelligence and sophisticated data analytics in ways that will revolutionize how insurers serve their clients. UTC customers will experience the enhanced benefits, broader scale, enhanced customer support and more advanced features and functionality of the premium Telogis platform.”
“The addition of UTC’s insurance telematics and fleet management business further strengthens and diversifies our customer base with large enterprises and SMBs alike, ensuring a strong revenue stream and flexibility to pursue additional expansion,” added Cozzens. “We also have the technology as well as the personnel and resources experienced in integrating acquired businesses into our open platform quickly and with no disruption to customer services. This positions us well for growth organically and through acquisitions into 2012 and beyond."
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