Telogis Buys Insurance SpecialistMonday, November 7, 2011
Logistics software maker Telogis Inc. has acquired the analytics and fleet management business of Connecticut-based UTC Fire & Security.
The buy for Aliso Viejo-based Telogis expands its reach in the insurance industry, according to executives.
“The insurance telematics market is growing rapidly and there is a great opportunity to apply our advanced location intelligence and sophisticated data analytics in ways that will revolutionize how insurers serve their clients,” chief executive Dave Cozzens said.
The UTC unit offers software and service focused on loss prevention and risk reduction. It counts Liberty Mutual Agency Corp. of Boston as a main client for a proprietary version.
Financial terms of the transaction were undisclosed.
The latest acquisition is the fourth in three years for Telogis, which sees more than $42 million in annual revenue.
It employs about 250 people companywide.
The company, which started in 2001, uses global positioning systems and software to help companies with large fleets of delivery trucks create better routes, track shipments and deliveries, and cut costs.
Its customers include government agencies, food and drink makers, oil and gas utilities and others. Big-name clients include Atlanta-based Coca-Cola Co. and Dallas-based AT&T Inc.
UTC is a division of United Technologies Corp., a Hartford, Connecticut-based maker of airplane parts, elevator systems, heating and refrigeration systems and fuel cells for industrial and commercial markets.