Archive for the Press & Events Category
SEATTLE, Wash. and BARCELONA, Spain – Airbiquity, a global leader in connected vehicle services, and China Unicom of Shanghai, today announced a partnership to provide telematics services for the Chinese automotive market, leveraging Airbiquity’s Choreo connected vehicle service delivery platform and China Unicom’s telecom infrastructure and service provider capabilities. The goal of the partnership is to provide comprehensive and advanced connected vehicle services for Chinese automotive line-fit and aftermarket programs.
The partnership will increase the breadth of services for both companies in the field of connected vehicle solutions, and help automotive manufacturers throughout China to quickly implement industry-leading telematics solutions.
Planned services offered through the partnership include infotainment and smartphone integration, commercial vehicle fleet services, CRM, and other traditional telematics services.
“Airbiquity is delighted to partner with China Unicom of Shanghai to expand its connected vehicle services within China,” said Kamyar Moinzadeh, president and CEO of Airbiquity. “With GSM and WCDMA business in 31 provinces and regions, as well as broadband and ICT infrastructure throughout the country, China Unicom is a leader in connectivity solutions. Bringing that industry-leading level of service into the car, across China, is an intelligent next step in a rapidly expanding market.”
Shipments of smartphones in China increased 61% YoY in Q3 2012, surging way ahead of the United States and confirming the nation’s position as the world’s largest country by volume. Matched with growing automotive production and sales, China Unicom and Airbiquity will be well positioned to bring cutting-edge telematics services to a rapidly expanding market.
“With vehicle sales in China alone expected to rise from 21 million units in 2013 to nearly 34 million in 2019, the opportunity for connected car solution suppliers is huge in this region,” said Richard Robinson, director, automotive at Strategy Analytics. “Our research highlights that nearly half of the vehicles sold in China will have either embedded modems or tethered device telematics capability by 2019, in spite of the lower value ‘economy’ segment accounting for over 30% of vehicle sales.
Services are scheduled to launch later this year with two customers already under agreement.
Airbiquity is at the forefront of change in the automotive industry, integrating advances in software, communications technology and wireless services with vehicles. Its connected vehicle solutions offer automakers a flexible platform for delivering innovative applications and services that help automobiles adapt to the driver’s digital lifestyle. To learn more about Airbiquity, visit www.airbiquity.com.
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JACKSONVILLE, Fla., Jan. 31, 2013 −Expanding on its leadership position in mobile financial services, FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced it has signed a definitive agreement to acquire the remaining 78 percent interest in mFoundry, a foremost provider of mobile banking and payment solutions for financial institutions and retailers. Previous to this transaction, FIS held a 22 percent interest in the company. The addition of mFoundry creates one of the leading mobile entities in the financial services space and enables FIS to leverage its technology assets across a broader client base.
“mFoundry has a well-earned reputation for innovation, powerful vision and agile development and delivers one of the most advanced mobile platforms in the market today,” noted Gary Norcross, FIS president and chief operating officer. “Consumers have adopted the mobile channel faster than any other delivery channel in existence, and delivering industry-best mobile solutions is a vital focus area for FIS. Our goal is to provide the solutions that underpin an organization’s ability to best reach and serve its customers, and the addition of mFoundry plays a key role in that strategy.”
Founded in 2004 and serving more than 850 clients, mFoundry’s customer-focused solutions have become a leading platform for mobile banking and mobile retail and have been adopted by some of the largest banks, credit unions, payments processors and retailers in the country.
Commenting on the transaction, Drew Sievers, mFoundry co-founder and chief executive officer stated, “FIS has been a great investment partner for the last several years, and the timing was right for us to combine forces to create the unparalleled industry leader in mobile delivery. This transaction enables us to capitalize on new market opportunities and bring top-tier mobile capabilities to our combined client bases.”
FIS anticipates paying approximately $120 million in cash to acquire the remaining 78 percent ownership interest in mFoundry. The transaction, subject to customary regulatory approvals and contractual closing conditions, is expected to close by the end of the first quarter.
mFoundry is North America’s largest provider of mobile banking and mobile payments services. The leading software-as-a-service (SaaS), cloud-based mobile banking offering, mFoundry works with more than 850 banks and credit unions nationwide, including Bank of America, PNC Bank, Zions Bank and more than one-third of the top 50 financial institutions in the U.S. mFoundry is headquartered in Larkspur, California, with offices in downtown San Francisco. For more information, visit http://www.mfoundry.com.
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