Softbank SPAC in Talks To Take Mapbox Public
Deal Could Be Worth $2 Billion
Mapbox is in discussions to go public through a special purpose acquisition company (SPAC) that will be backed by SoftBank Group Corp. [9984.T], according to Sky News.
Mapbox, which is a Softbank Vision Fund portfolio company, is talking with SVF Investment Corp. 3 [SVFC.O] at a valuation of $2 billion, according to the Sky News article, which reported on the negotiations. Mapbox declined a Location Business News request for a comment.
To top off a week where GM said it would use Mapbox Maps+ in more than 900,000 compatible vehicles, the San Francisco-based mapping company also announced the launch of a customizable lane-level navigation system for cars. The system, called Mapbox Dash, allows automakers to customize a driver’s navigation experience, the company said.
Mapbox Dash supports integration into such services as parking, fuel, AI assistants, and streaming music. Mapbox Dash is marketed to carmakers as a subscription service with updates.
Key Takeaways:
Mapbox is expected to generate more than $100 million in revenue this year and is valued at $1 billion, according to Bloomberg News. One estimate of the company’s worth is as much as $1.2 billion as of April 2020, according to data from PitchBook and cited in a Reuters story.
The company makes mapping products used by Instacart, Adobe, CNN, IBM, Strava, Snapchat, Square and many others.
Mapbox is looking to grab a huge share of the auto mapping business, with recent deals with GM and last year with BMW.
GM will launch a customized version of Mapbox Dash for their Chevrolet, Buick, GMC and Cadillac brands.
Telefónica and Geotab Sign Deal With ALD for Telematics Unit Rollout
ALD Automotive has a signed a deal with Telefónica Tech and Geotab for a connected car solution to be rolled out this year in 12 European and Latin American countries.
Telefónica and Geotab have been partners in IoT and telematics markets. In this new deal, the companies will provide a fleet management product that includes GPS location, accelerometer and vehicle electronics unit data.
ALD Automotive plans to remotely manage vehicle fleets in real time, proactively plan car maintenance operations and improve the productivity of drivers and fleet managers, the company said.
Key Takeaways:
Stats: ALD Automotive manages more than 1.76 million vehicles in 43 countries.
At 2.2 million connected vehicles, Geotab is the world's largest commercial telematics company, according to ABI Research…and is often a rumor for acquisition.
Telefónica Tech will provide full support to ALD Automotive in countries where it deploys connected vehicle technology, which primarily is in Europe and Latin America.
T-Mobile Launches SyncUP Tracker
Saying the average American spends 2.5 days a year looking for lost itmes work $2.7 billion, T-Mobile [TMUS] rolled out its SyncUP Tracker, which is available on May 7 at the company’s stores nationwide.
SyncUP Tracker, part of the company’s SyncUP line of products that uses the LTE network, is unlike Bluetooth trackers in that it works beyond line of sight. The company says the tracker doesn’t need to be in a specific range or near a smartphone to work.
T-Mobile’s SyncUP Tracker (Photo: T-Mobile) The tracker will also ring when it locates a nearby item. In addition, it has a 7-day rechargeable battery.
Key Takeaways:
The tracker has a monthly $2.50 fee for customers with a 24-month plan.
T-Mobile says it provides “near real-time tracking” and virtual boundary alerts--even when hundreds of miles away.
Contact: T-Mobile, MediaRelations@t-mobile.com, https://www.t-mobile.com.
Ford Launches Blue Cruise Hands-Free Driving System
After 500,000 miles of testing, Ford [F] plans to offer its new BlueCruise hands-free highway driving system to customers later this year. The Tesla Autopilot competitor, which will be a SAE Level 2 driver-assist technology, will be have over-the-air software updates and will be offered on 2021 F-150 and 2021 Mustang Mach-E models.
Ford plans to sell more than 100,000 vehicles equipped with BlueCruise in the first year, based on company sales and take-rate projections.
Currently, more than 100,000 miles of highways across North America are dedicated “Hands-Free Blue Zones” in the Ford GPS mapping system, the company said. In addition to the full hands-free mode, equipped vehicles will also feature Lane Centering mode, Ford said.
Currently, more than 100,000 miles of highways across North America are dedicated “Hands-Free Blue Zones” in the Ford GPS mapping system, the company said. In addition to the full hands-free mode, equipped vehicles will also feature Lane Centering mode, Ford said.
Ford said BlueCruise is similar to Tesla Autopilot, but with the advantage of offering a “true hands-free driving experience” while in Hands-Free Mode that does not require a driver’s hands to stay in contact with the steering wheel, unless prompted by vehicle alerts.
Key Takeway:
🤞 With all of the flap going on about the Tesla Autopilot, and potential regulation coming, Ford has to make this product driver-proof…but is that possible?
Teletrac Navman Says Southern U.S. Roads The Most Dangerous
Teletrac Navman has ranked the most dangerous highways in America by analyzing four years of fatality rates over certain stretches of highway and calculating the number of vehicle-related deaths per mile, the company said.
What road is the most dangerous? Interstate-4 in Florida - approximately the 132.2 miles connecting Tampa to Daytona Beach - is the only roadway in the report averaging more than one fatality per mile, the company said. From 2016 to 2019, 150 people were killed there in collisions, including 11 in Orlando, alone, making it the deadliest highway in America for the second time in a row. In 2015, it held the same distinction with 165 reported fatalities, in a five-year survey.
Contact: Andrew King, Bastion Elevate, (914) 513-6895, andrew@bastionelevate.com, www.teletracnavman.com.
Other Location News:
News tip? Send them to kdennehy@driverlessreport.com.
😉 Bridgestone Nearing U.S. Deal, Narrows List to a Few Candidates. Bridgestone [BRDCY] paid $1.1 billion for the telematics unit of TomTom [TOM2] in 2019…and is looking at a major deal in the U.S. Bridgestone’s CEO mentioned Geotab in the Bloomberg article, but didn’t say if they’ve contacted the Canadian fleet management software company.
✔ Toyota Buys Lyft’s Self-Driving Unit. What was once a pillar of Lyft’s technology is sold to Toyota for $550 million.
🤷♂️ Here's an article that summarizes the recent AV turmoil: Autonomous Vehicle Industry’s Self-Inflicted and Avoidable Collapse — Ongoing Update
🤦♂️ Amazon Is Spying On Its Drivers. Cameras, GPS and telemetry. “Amazon's on-vehicle system uses AI-powered cameras from Netradyne, a San Diego-based company that makes fleet management software.”
🤞 Apple Airtags’ $29 Bluetooth Tracker. A lot of companies have come out with personal trackers…can Apple crack the code on profit?
✔ Radius Buys Telematics Firm CanTrack Global. CanTrack is a stolen vehicle recovery (SVR) telematics business.
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Garmin Reports First Quarter Results
Let by their fitness, outdoor, marine and auto markets, Garmin [GRMN] reported revenue of $1.07 billion for the quarter, a 25 percent increase over last year at the same time. Revenue from the auto market grew 18 percent during the first quarter--driven by OEM programs and growth in consumer specialty categories, the company said.
The company last week rolled out their Venu 2 Series GPS smartwatch, which features fitness age estimates the body’s age using chronological age, activity, resting heart rate and either body fat percentage or BMI. It also stores activity profiles for HIIT, indoor climbing, bouldering and hiking.
Contact: Carly Hysell, Garmin, (913) 397-8200, media.relations@garmin.com, www.garmin.com.
CalAmp Reports Quarter Earnings, Rolls Out Product
CalAmp [CAMP] reported its first quarter earnings that include a GAAP net loss of $3.2 million, or .09 cents per share. The company’s telematics product revenue was $47.3 million.
In other company news, CalAmp rolled out its new SC1302 single-use smart tracking device that can monitor temperatures as low as -20 degrees Celsius, the company said. The product’s main market is the transport of COVID-19 vaccines and other pharmaceuticals, as well as electronics and other high-value shipments.
The new environmental sensor is commercially available, and first shipments are anticipated in the first half of 2021. The sensor integrates with CalAmp's SC iOn Supply Chain Visibility software.
Contact: CalAmp, www.calamp.com.
Link Labs Awarded Six Patents for Location Capability
Link Labs said it was awarded six U.S. patents, many of which include location technology, for its AirFinder OnSite IoT asset tracking platform. The patents help the AirFinder OnSite's asset location get to the sub-meter level, the company said.
Contact: Michael Tebo, Gabriel Marketing Group for Link Labs, (571) 835-8775, michaelt@gabrielmarketing.com.
PointMan Integrated Into RTK Receiver
ProStar Holdings [MAPS] has integrated its PointMan receiver into the Vivax Metrotech vLoc3 with integrated RTK (real-time kinematic) technology. The integration with the vLoc3 RTK-Pro creates the first utility locate device with an integrated RTK GNSS receiver running on PointMan, the company said.
The integration will provide centimeter-accuracy of the location of buried utilities in real-time, without an external GPS/GNSS receiver, and can be shared and displayed, the company said.
Contact: Alex Moore, (970) 242-4024, investorrelations@prostarcorp.com, www.prostarcorp.com.
TraceSafe Partners with PlotProjects for COVID-19 Tracking
TraceSafe [TSF] has partnered with PlotProjects, a location-based marketing technology company, to offer a health and safety product for the European market. PlotProjects offers a geo-fencing and beacon services to app owners and developers. This partnership will develop a product to track COVID-19 outbreaks and new variants at specific locations and events, the company said.
Contact: Wayne Lloyd, TraceSafe, (604) 629-9975,
wayne@tracesafe.io, www.tracesafe.io.
Inpixon Buys Products from Visualix
Inpixon [INPX] purchased a number of technology products from Visualix. These include augmented reality (AR), computer vision, localization, navigation, mapping, and 3D reconstruction technologies, the company said
The Visualix deal includes patents, trademarks, software and related intellectual property. The products use a smartphone's camera and on-board sensors to create 3D models of indoor spaces; position the user on a map with centimeter-level accuracy; provide turn-by-turn, visually-guided navigation; overlay virtual artifacts onto the live map displaying key information, the company said.
Contact: Inpixon, marketing@inpixon.com, inpixon.com/contact-us.
Hexagon’s Mining Division Wins Gold Mine Contract
Hexagon’s [HEXA B] mining division has been awarded a multi-solution project at Toka Tindung gold mine in North Sulawesi, Indonesia. The phased deployment will see Hexagon systems for fleet management, operator alertness, blast monitoring and enterprise analytics implemented by the company’s Indonesian staff at the mine between now and October 2021.
Contact: Neville Judd, Hexagon, (604) 505-6154, neville.judd@hexagon.com, www.hexagon.com.