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Acquisition Expands Spireon’s Full Vehicle Life-Cycle Portfolio with GPS Theft Recovery for New Car Dealers
IRVINE, Calif. – July 15, 2015 - Spireon today announced the acquisition of privately held Inilex, a leading provider of next-generation GPS car dealer services. Inilex’s main product, Skylink, enables new car dealers to significantly increase their finance and insurance (“F&I”) revenue with high-value GPS-based add-on services.
As the automotive industry transforms in the Connected Car era, this acquisition enables Spireon to uniquely connect all major segments of the vehicle life cycle, ranging from new car dealers to used car dealers, fleets, lenders, insurance companies, and rental car fleets. The acquisition expands Spireon’s strategy to offer rich services and business intelligence across any kind of vehicle.
As the market leader with 2.3 million Connected Vehicles, Spireon is now over four times the size of the next largest theft recovery provider, Lojack.*
“The acquisition of Skylink expands Spireon reach into the new car dealer segment, and positions us as a leader across the vehicle life cycle,” said Marc Brungger, CEO of Spireon. “New car dealers have strongly told us they need new ways to increase revenue by offering consumer applications that leverage the data coming from Connected Cars.”
Skylink leapfrogs traditional theft recovery services by replacing legacy radio sets that have limited coverage with next-generation GPS services that can be tracked with any internet connected device. Instead of relying on proprietary technology that only works with a small number of police vehicles, Skylink offers ubiquitous coverage using national cellular networks. And with the combination of Skylink’s dedicated 24/7 call recovery center that works directly with local law enforcement and cloud-based phone applications, vehicles are recovered within minutes instead of waiting days for a dedicated police car to search manually for a radio signal. Skylink provides significantly greater value to the dealer by also providing lot management functionality and enabling the dealer to sell compelling add-on consumer applications.
“For new car dealers, Skylink offers value on multiple levels,” said Jeff Rachor, CEO of Berkshire Hathaway Automotive, the fourth-largest automotive retailer. “Skylink’s vehicle inventory management system allows for greater operating efficiencies, and as an aftermarket accessory, Skylink is a high value product that appeals to customers.”
“We are excited to join the Spireon family,” said Michael Maledon, CEO of Inilex Corporation. “This transaction allows us to scale our sales and marketing efforts to reach more dealers nationwide. Backed by world-class infrastructure, our customers gain the added assurance that Skylink will continue on our promise to deliver high value solutions and results.”
About Spireon Spireon, Inc. is a leading provider of Software-as-a-Service (SaaS)-based tools that support more than 2 million active connected vehicle subscribers through the company’s vehicle finance and fleet telematics solutions, and trailer and asset intelligence GPS offerings. Headquartered in Irvine, CA, Spireon connects companies to their mobile assets and workforces, giving them powerful information platforms that turn data in to actionable business intelligence.
Spireon’s award-winning NSpire M2M intelligence platform provides unparalleled reliability and scalability, allowing the company to deliver ROI-focused solutions. The company's GoldStar CMS automotive solutions help dealers and lenders put more of their customers into vehicles, while giving them the tools to make smarter lending decisions, protect their investment, ensure longer performing loans and improve their business fundamentals. Spireon's industry-leading FleetLocate fleet offerings provide real-time visibility into business operations, allowing owners and managers to optimize asset management, and improve driver satisfaction and retention.
* Based on Lojack press release from June 2, 2015