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CalAmp to acquire LoJack Corporation

CalAmp, a provider of wireless solutions, will acquire LoJack Corporation, a provider of vehicle theft recovery systems and advanced fleet management solutions, for USD 6.45 per share in an all cash transaction valued at approximately USD 134 million.
This transaction, which has been unanimously approved by both companies' boards of directors, will create a strong company in connected car solutions and vehicle telematics applications. The combination builds on both companies' complementary strengths and is expected to accelerate the broad adoption of vehicle telematics technologies and applications around the globe.

"The acquisition of LoJack aligns with our strategy to deliver innovative, next generation connected vehicle telematics technologies, thereby accelerating our roadmap in these large and fast growing markets, while creating value for our customers, partners and shareholders," said Michael Burdiek, CalAmp's President and Chief Executive Officer.

"By combining with LoJack, we expect to enhance our ability to deliver novel connected vehicle telematics technologies and applications to our global customers. Moreover, we believe that LoJack's considerable relationships, particularly in the U.S. auto dealer channel, as well as in the commercial space with heavy equipment providers and their international licensee footprint, will create new opportunities for growth and strengthen our competitive position. We are excited to welcome LoJack's talented team to CalAmp and look forward to realizing the benefits that we expect this transaction to create," he adds.


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Further details can be found here.
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