Cambridge Mobile Telematics Acquired Close Rival TrueMotion To Expand

Cambridge Mobile Telematics, the vehicle tracking company has acquired close rival TrueMotion for an undisclosed fee.

 

Cambridge Mobile Telematics Acquires TrueMotion
Cambridge Mobile Telematics Acquires TrueMotion

 

TrueMotion another leading smartphone-only driving data company founded in 2013 on the foundation of technology, has been growing massively these past years that it has gained the attention of Industry leaders Cambridge Mobile Telematics.

 

Cambridge Mobile Telematics sees this acquisition more like a merger/partnership, as they use technology to better manage risks associated with driving. Hari Balakrishnan, Cambridge Mobile Telematics co-founder, and chief technology officer mentioned “These are very, very difficult problems we’re attacking.”

 

Cambridge Mobile Telematics device
Cambridge Mobile Telematics device

 

There are certainly ideas that one group does better than the others … what our customers and partners will get are the best ideas brought into products.” This is an area TrueMotion leads with its smartphone driving data.

 

Originally founded in 2010, Cambridge Mobile Telematics initially started as a traffic tracking company; affixing sensors to flip phones for its operation until iPhones came and made things easier.

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Then 2 years later, sprung TrueMotion. Both companies have relied on GPS data from users driving to track speeding; distractions; dispatch roadside assistance; and detect accidents in real-time.

 

TrueMotion
TrueMotion

 

For road users, especially drivers Cambridge Mobile Telematics and TrueMotion is looking to issue insurance policies; that reduce crashes, improve driving, and create major savings in terms of costs and damages to society. Cambridge Mobile Telematics predicts the market for its services and products could grow as high as $125 billion by 2026.

 

According to a report by Bloomberg, the combined company of Cambridge Mobile Telematics and TrueMotion will look for growth in driverless vehicles.

 

TrueMotion partners with LB Forsikring to promote safe driving in Denmark

 

As the company collects data, it would rely on more accurate sensors, artificial intelligence, and algorithms to make better decisions, the Bloomberg article concluded.

 

 

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