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Verizon buys Telogis in connected vehicle market push

(Note/disclaimer: We are owned by Verizon, by way of AOL. This gives us no inside track whatsoever when it comes to news.) With a lot of tech companies and automakers staking their claims in the connected car space, now there are signs that others are looking to move in, too. Today, telecoms giant Verizon announced that it is acquiring Telogis, a California-based company that develops cloud-based solutions for mobile workforces, and specifically telematics, compliance and navigation software used by Ford, Volvo, GM and other car companies, as well as Apple and AT&T. Financial terms of the deal have not been disclosed, although we'll try to find out. Considering that Verizon in 2015 reported full-year revenues of $131.6 billion, the price would have to be very high to be considered "material" and may not be made public for some time, if ever. Telogis in its time as a startup raised a substantial amount of money, just over $126 million in all, including $93 million in 2013, supposedly ahead of an IPO, all from Kleiner Perkins Caufield & Byers. Back in 2013 when KPCB made its investment (which was the first from a VC firm in the company), Telogis told TechCrunch it was profitable and forecasting revenues of $100 million annually for the year. It's not clear what size those revenues are now, but if it was on the same growth trajectory as before the funding, sales would be around $150 million annually, with profitability, at the moment. Other investors include some very notable strategics: the investment arm of General Motors, and Fontinalis Partners, which also invests in Lyft and was co-founded by Bill Ford, the executive chairman of the Ford Motor Company. Before the acquisition, Verizon actually had a business in fleet management and telematics; in fact, the two companies competed against each other for business from the trucking and other industries. Verizon Telematics, as the business is called, is active in 40 countries. But in a way, Verizon buying Telogis is a sign that the latter may have proved to be the more superior, and the one with the key customer deals.

TRANSLOGIC 147: CES 2014 Autonomous Vehicles

We head back to CES in Las Vegas to check on the progress of autonomous vehicles in 2014. We go hands-free on the highway with Audi, narrowly avoid a collision with Ford and hear all about BMW's drifting driverless car. But first we take a ride on Induct's self-driving Navia shuttle.

Xcar gets the scoop on Ford's strategy for the GT at Le Mans in 2016

Ford's plan to return to the 24 Hours of Le Mans in 2016 with the latest GT might have been one of the worst kept secrets in motorsports in recently memory. Even before the road car debuted at the 2015 Detroit Auto Show, rumors were flying about the Blue Oval's strategy. The wait for the official announcement just before this year's race was certainly a long one, but it was probably worthwhile just to see the competition version's spectacular looks. Xcar recently got the chance to interview Ford about the company's objectives for the new racer's development. Both the GT racing and street programs are meant as ways to advance cutting-edge technology and potentially let it trickle down to less-expensive models in the future. This is especially the case when it comes to finding ways to make carbon fiber cheaper and better. Of course, the supercar is also a showcase of what Ford can do competitively, and apparently there are patent-pending suspension parts the company isn't even talking about yet. Ford would love to score a class victory at Le Mans next year, and is pretty clear here and in its earlier promo video that it sees Ferrari as a major rival in the race. While that makes sense historically, the cross-town competitors at Corvette could be an even bigger challenger. That squad has a more recent legacy of success in the 24-hour challenge, including a victory in the GTE-Pro class this year. Related Video: