LoJack, TomTom form strategic alliance
LoJack Corp., a Canton company known for its stolen vehicle recovery systems, said Thursday that it has entered into a strategic alliance with TomTom Inc., a supplier of location and navigation products and services.
TomTom, which has operations in Concord, will benefit from LoJack’s brand strength and distribution channel by introducing its fleet management technology to new business markets in North America, LoJack said in a press release. One benefit: TomTom will get access to existing LoJack relationships with US construction rental companies, auto dealers, and law enforcement agencies.
TomTom, meanwhile, will provide LoJack with location-based services and technology, a successful software-as-a-service (SaaS) business model, and extensive experience in big data.
Through the alliance, LoJack said it will market and install a range of TomTom Business Solutions products and services, including WEBFLEET. The WEBFLEET service is designed to help business owners operate their truck-and-vehicle fleets more profitably, while providing increased asset protection and greater customer service.
From a competitive perspective, no other company currently offers the breadth of solutions that LoJack and TomTom will be able to provide through this alliance, LoJack said.
LoJack and TomTom will be working in a revenue sharing system on both the hardware sale and the subscription fees for the service, LoJack added.
“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,” Randy L. Ortiz, LoJack’s president and chief executive, said in a statement. “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.”Chris Reidy can be reached at email@example.com.