VIENNA, December 18, 2014 /PRNewswire/ --
- With Photo
- Europe's market leader in telematics for vehicle insurers once again with Austrian owners. Board of Directors and company founders buy back majority holding of shares from the Italian MetaSystem Group together with investors.
- International expansion planned in the fast growing segments of insurance telematics and own smartphone emergency services.
The majority of shares of the Vienna-based technology developer Dolphin Technologies (http://www.dolphin-technologies.com) are once again in Austrian hands after a management buyout. The company, which is one of the leading European developers of telematic solutions for vehicle insurance companies, generated a turnover of 8 million euros in 2013.
Since its founding in 2001, Dolphin has received numerous awards for its products. It also developed and successfully marketed the world's first telematic device to control parking heaters for cars via phone. In 2007 the Italian MetaSystem Group (http://www.metasystem.it ) purchased a majority holding in Dolphin. The two founders, Harald Trautsch and Thomas Pöschl, kept 15 per cent and continued to manage the company successfully from Vienna.
Several takeover offers from international companies were received for the fast-growing Dolphin business area of telematics for insurance companies. Convinced about the excellent perspectives for the future as an independent company, the two founders and managing directors of Dolphin Technologies, Trautsch and Pöschl, decided to buy back the company.
Dolphin founders buy back majority holding together with investors
Trautsch and Pöschl acquired further 61 per cent, which means they now have a majority holding of 76 per cent in Dolphin Technologies via their investment company. This leveraged management buyout was completed together with the private Austrian investment company Industrieliegenschaftenverwaltung AG (http://www.ilag.at ). MetaSystem Group has kept a minority holding in Dolphin, as it will continue to act as an international cooperation partner in the future.
International expansion planned
The new majority shareholders are now quickly planning further expansion. Dolphin demonstrates technological leadership in the fast growing segments of vehicle telematics for insurers, for car manufacturers and for emergency and information agencies, and thus has the best possible chances on the international markets. The company will also benefit from the fact that an ever-increasing number of vehicles are being originally equipped with telematics systems. These can provide the owners with information in the car or on their mobile phone, make emergency calls, or even connect to smartphone apps such as electronic driver logbooks.
eCall is coming in 2018: significant potential for vehicle insurers
The mandatory introduction of the accident notification system eCall throughout Europe was recently postponed again. From March 2018, however, all new vehicles must automatically notify the nearest public safety answering point about accidents. Many insurance companies are already offering their customers telematic solutions for reporting accidents automatically or manual emergency calls with notification of the precise location. Telematic applications from Dolphin Technologies are already being used successfully by large insurance companies like Uniqa or Generali as well as the Austrian automobile club, ÖAMTC.
Vehicle telematics booming worldwide
Another aspect that clearly highlights the importance of the vehicle telematics segment internationally is the fact that many telematics companies have been taken over recently by internationally renowned IT companies: Verizon bought Hughes Telematics, LexisNexis invested in Wunelli, the mobile telecommunications provider Vodafone took over Cobra, and Renova bought Octo Telematics - a company that also belonged to MetaSystem Group in the past, just like Dolphin Technologies.
Further information can be found at http://www.dolphin-technologies.com.
About Dolphin Technologies
The Austrian company based in Vienna was founded in 2001 and is the technology leader when it comes to insurance telematics. Dolphin's main area of activity is the development and marketing of holistic telematics solutions for the vehicle insurance market. In addition to numerous national and international prizes, the company was graded the "Best Startup" by AT Kearney in 2007 within the scope of the "Best Innovator Award". Renowned companies like UNIQA, Generali, ADAC and ÖAMTC have already placed their trust in the products and services of Dolphin Technologies.
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SOURCE Dolphin Technologies