CalAmp, the LoJack owner with operations in Oxnard, announced Sept. 12 that its licensee Car Security had expanded its contract, using the company’s full portfolio, including devices and risk management services.
Car Security, based in Argentina, will use CalAmp’s CrashBoxx incident reporting service to manage claims and guard against fraud in Argentina, Chile and Uruguay.
“This expanded partnership marks a growing trend by LoJack global licensees who are adopting CalAmp telematics technology and significantly expands our market reach in Latin America,” Senior Vice President Paul Washicko said in a news release.
The company also announced the release of a new product for the trucking industry. The V-Series electronic logging device includes a removable tablet and alerts drivers when there are malfunctions, helping meet new standards set by the Federal Motor Carrier Safety Administration that go into effect in December. The product can be used with CalAmp services or other applications.
Shares for the company rose 1.5 percent after the announcements to $19.39 as of 11:20 a.m. Sept. 12.
• Contact Marissa Nall at [email protected]