Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Traffilog and SafeRide Merge, Headed to SPAC IPO

Traffilog

Traffilog (Facebook pic)

Israeli autotech companies Traffilog and SafeRide which only just merged are working on their initial public offering IPO. They plan to go public through an SPAC merger, according to a report in Calcalist which set the value of the new company at $1 billion.

The Traffilog and SafeRide merger was more of an acquisition of SafeRide.

Founded by Robert Izraeli in 2003, Traffilog provides telematics, advanced diagnostics, and predictive maintenance services for commercial and passenger fleets. Telematics is a field that encompasses telecommunications, vehicular technologies (road transport, road safety, etc.), electrical engineering, and computer science. With automobiles, it deals specifically with the monitoring cars, trucks, equipment and other assets by using GPS technology and on-board diagnostics (OBD) to plot movements on a computerized map

Founded in 2016, SafeRide Technologies is a provider of AI-based VHM and fleet analytics solutions that predict, detect, and analyze vehicle malfunctions and performance degradations. SafeRide’s vInsight deep learning VHM and fleet analytics platform includes a VHM development tool, an in-vehicle inference engine, and an AI-based data analytics solution for commercial fleets.

Traffilog will immediately begin integrating SafeRide’s VHM platform into its existing solutions and offer advanced AI-based data analytics solutions as early as next year. This offering will include AI-based VHM capabilities to its customers throughout the world with a significant advantage over competing telematics solutions and over standalone AI solutions offered by analytics companies.

The new consolidated company currently provides telematics and analytics services to dozens of automakers and fleets with hundreds of thousands of vehicles worldwide. The company will also continue to collaborate with automakers and Tier 1 suppliers across the globe to integrate its AI-based software products into next-generation vehicles and will have global-wide reach, with presence in San Francisco, Detroit, Germany, Korea, and Israel.

“Combining SafeRide’s AI and deep learning technologies with Traffilog’s data collection and management capabilities as well as its strong customer-base will enable us to take a huge step forward,” said Erez Lorber, CEO of Traffilog, who will remain the CEO of the consolidated company. “Together we will improve our value proposition for large fleets, leading OEMs, and Tier 1 suppliers, enabling them to make data-driven decisions, develop better products, reduce costs, and create new growth engines.”

“Traffilog’s advanced telematics and data acquisition capabilities provide access to valuable vehicle data,” said Yossi Vardi, SafeRide’s CEO and Co-Founder. “Integrating SafeRide’s deep learning and big data analytics technology together with Traffilog’s platform enables us to deliver best-in-class diagnostics and predictive maintenance services to vehicle manufacturers and commercial fleets worldwide.”

Click to comment

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement