Internet of Things provider CalAmp, with operations in Oxnard, announced a partnership with Boca Raton, Fla-based Autobrain.
Autobrain’s platform will use CalAmp’s networks to bring smart car capabilities to regular vehicles, according to the June 22 news release. Devices like OBD sensors and telematics systems will enable consumers to track their car’s location and condition and assess their driving behavior.
“CalAmp has an exceptionally talented team, combined with the most advanced telematics offering in the space,” Jeremy Gelbart, co-founder and CEO of Autobrain, said in the release. “Their proven technology and ability to meet our evolving feature set is second to none and we are proud to be working with them to deliver the latest innovations to the auto-tech market.”
The deal will help Autobrain launch new applications and scale its connected car services, said Justin Schmid, senior vice president and general manager of telematics systems at CalAmp. Financial terms of the deal were not disclosed.
Shares for CalAmp climbed 1.7 percent on June 22 to $19.65.
• Contact Marissa Nall at [email protected]