to Develop and Deliver Tracking Solutions for Commercial Equipment.
CANTON, Mass., Oct. 27, 2014 /PRNewswire/ -- LoJack Corporation (NASDAQ: LOJN), a provider of vehicle theft recovery and advanced fleet management solutions, today announced a strategic alliance with leading international telematics provider Trackunit A/S. This agreement enables both companies to strengthen their positions as leading providers of commercial equipment telematics solutions.
LoJack is launching LoJack® Connect for Equipment, leveraging its longtime market presence in the commercial equipment space. The companies will introduce the new ruggedized commercial equipment tracking products in both the United States and Canada.
The construction industry is increasingly adopting telematics solutions as they provide a positive return on investment from monitoring equipment usage, conducting preventative maintenance at proper intervals and optimizing overall equipment use to minimize costs and maximize returns. According to industry expert estimates, well over a million pieces of equipment are in use in the construction industry across the United States, and their owners are adopting telematics in increasing numbers. To meet those growing market demands, LoJack and Trackunit will work in partnership to deliver breakthrough products and services to enhance the management, serviceability and efficiency of off-road equipment. Together, the companies will deploy a number of new solutions to serve customers ranging from original equipment manufacturers to major rental firms and construction contractors.
"This alliance will instantly bring to market new telematics and off-road fleet management solutions for the construction industry in the United States" said Svend M. Hansen, CEO of Trackunit. "We are very excited about the opportunity to work closely with LoJack to expand our global presence and see the fit between our two companies as a perfect match for this strategic alliance in North America"
"Our collaboration with Trackunit will strengthen LoJack's existing alliance for on-road fleet management with off-road technology solutions and will provide significant business growth opportunities for both companies," said Randy Ortiz, President and CEO of LoJack Corporation. "With the introduction of a full suite...READ MORE
