The combined company will serve as a global leader in transforming vehicle data into high-value insights for automakers, suppliers, and fleets
TEL AVIV, Israel, Nov. 8, 2021 /PRNewswire/ -- Traffilog, a leading provider of telematics, advanced diagnostics, and predictive maintenance services for commercial and passenger fleets, today announced the acquisition of SafeRide Technologies, a recognized leader in artificial intelligence (AI) for the automotive industry. The 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. The consolidated company will have global-wide reach, with presence in San Francisco, Detroit, Germany, Korea, and Israel.
Advancements in autonomous driving, electrification, data-driven applications, and shared mobility are providing opportunities for fleet owners and automakers to develop new business models. However, the resulting growth in vehicle complexity creates an abundance of challenges including quality issues, reduced operational efficiency, and an increase in total cost of ownership. In response, fleets, vehicle manufacturers, and suppliers are seeking new Vehicle Health Management (VHM) solutions to reduce maintenance costs, minimize diagnostic and repair time, optimize fuel consumption, mitigate roadside repairs, and minimize downtime.
In the midst of this automotive data and software revolution, the AI-based solutions enable vehicle fleets to significantly reduce operating and maintenance costs and enable automakers to reduce the cost of vehicle development, improve vehicle quality, lower warranty claims costs, and more. The company's products also enable automakers and their customers to offer advanced online services and create new business models that will increase their revenue.
"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 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.
"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."
Traffilog is a leading provider of telematics, advanced diagnostics, and predictive maintenance services for commercial and passenger fleets. The company has over 15 years of industry experience, a mature telematics solution, deep automotive use-case knowledge, and an in-depth understanding of vehicle data. It has a strong global customer base and large-scale implementation and support capabilities. Visit www.trafflog.com to learn more.
About SafeRide Technologies
SafeRide Technologies is a leading 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. SafeRide has partnered with global OEMs and Tier 1 suppliers to integrate its software into next generation vehicle platforms. For more information, visit www.saferide.io.