Protection and Management Services to be Offered by LoJack Automotive Dealership and Commercial Distribution Networks
CANTON, Mass. and CONCORD, Mass., Jan. 24, 2013 /CNW/ - LoJack Corporation (NASDAQ: LOJN), the company that invented the Stolen Vehicle Recovery market, has entered into a strategic alliance with TomTom, Inc., the world's leading supplier of location and navigation products and services. Through this alliance, LoJack will offer fleet telematics solutions beginning in the first quarter of 2013 to small and medium business owners, commercial fleets, automotive dealerships and law enforcement agencies. In the second half of the year, LoJack plans to deliver additional solutions for automotive dealerships and consumers.
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LoJack will market, install and service a range of TomTom Business Solutions products and services, including its highly regarded SaaS fleet management service – WEBFLEET. The LoJack offering will provide business owners the opportunity to use GPS/GSM technology to address higher fuel costs, optimize routing with real-time traffic data, and address unsafe driving behavior with WEBFLEET. These services allow business owners the opportunity to operate their vehicles more efficiently and profitably, while providing increased asset protection, greater customer service and employee satisfaction. The two organizations will also integrate TomTom's hardware, software, back-end data and SaaS services with LoJack's Stolen Vehicle Recovery Network technology.
"This strategic alliance enables both companies to strengthen their position as best-in-class providers of automotive technology," said Thomas Schmidt, TomTom Business Solutions, Managing Director. "LoJack's far-reaching market presence will introduce TomTom's fleet management technology to new business markets in North America and enable existing LoJack customers to benefit from a full fleet management solution."
"This alliance allows LoJack to build upon our global stolen vehicle recovery network technology with a wider range of solutions that add value to our customers and partners," said Randy L. Ortiz, President and CEO of LoJack Corporation. "Fleet management is the first segment we're targeting. The LoJack and TomTom alliance will leverage our complementary capabilities. LoJack brings its brand strength, global commercial distribution, stolen vehicle recovery system network, automotive aftermarket leadership and unique law enforcement relationships. TomTom offers leadership in navigation and location-based services and technology, a successful SaaS business, and extensive experience in big data. Together, we'll introduce a full suite of products and services for existing and new markets."
About LoJack Corporation
LoJack Corporation, the company that has helped more than nine million people protect their vehicles in the event of theft over the past 25+ years, today provides safety, security and protection for an ever-growing range of valuable assets and people. Leveraging its core strengths, including its well-known brand, direct integration with law enforcement and dealer distribution network, LoJack Corporation is expanding into new areas across the continuum from theft deterrence to recovery. The company is focusing on creating a new level of value for its dealer, customer and investor communities by delivering innovative offerings and multiple technologies in expanding geographies. For more information, visit www.lojack.com/fleet-management, www.autotheftblog.com, www.youtube.com/lojack, www.twitter.com/LoJackCorp or www.Facebook.com/LoJackCorp.
Founded in 1991, TomTom (TOM2) is a leading provider of navigation and location-based products and services. TomTom maps, traffic information and navigation
Founded in 1991, TomTom (TOM2) is the world's leading supplier of in-car location and navigation products and services focused on providing all drivers with the world's best navigation experience.
Headquartered in Amsterdam, TomTom has 3,500 employees and sells its products in over 40 countries. Our products include portable navigation devices, in-dash infotainment systems, fleet management solutions, maps and real-time services, including the award winning TomTom HD Traffic.
For the world's most up-to-date route planner, including live traffic information, go to www.tomtom.com/livetraffic. For further information, please visit www.tomtom.com.
About TomTom Business Solutions
TomTom Business Solutions is a leading provider of fleet management solutions and professional telematics Services. Our in-car products are designed to help drive greener, safer and more efficiently. Our online platform, WEBFLEET, is highly scalable and has the highest standards in terms of reliability and security.
For further information, please visit business.tomtom.com
Follow us on Twitter @TomTomBusiness
Safe Harbor Regarding Forward Looking Statements
From time to time, information provided by LoJack or statements made by its employees may contain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements in this news release that are not statements of historical fact are forward-looking statements. You can identify these statements by use of the words "assumes," "believes," "estimates," "expects," "will," "intends," "plans," "projects" and similar expressions that do not relate to historical matters. Such forward-looking statements are based on a number of assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially, including risks associated with the expected benefits from LoJack's strategic alliance with TomTom, the existence of market opportunities, the range and variety of products and solutions that LoJack will be able to offer, the timing for introduction of TomTom-powered products by LoJack, the ability to integrate LoJack's and TomTom's technology, the continued and future acceptance of LoJack's products and services, competition, LoJack's ability to respond to technological change to meet evolving customer needs, and changes in general economic or geopolitical conditions. For a further discussion of these and other significant factors to consider in connection with forward-looking statements concerning LoJack, reference is made to LoJack's Annual Report on Form 10-K for the year ended December 31, 2011 and LoJack's other filings with the Securities and Exchange Commission. Readers should not place undue reliance on any forward-looking statements, which only speak as of the date made. Except as required by law, LoJack undertakes no obligation to update any forward-looking statements.
SOURCE: LoJack Corporation
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