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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.

Volvo racks up the most IIHS Top Safety Pick+ awards of any 2022 carmaker

It should not come as any surprise, but Volvo has won the most IIHS Top Safety Pick+ awards of any automaker in 2022. Top Safety Pick+ is the Insurance Institute of Highway Safety's top prize. Volvo has accumulated 13 of the awards, spanning its entire lineup. IIHS and Volvo separates models between gasoline and electrified versions of the same car, even though the tests may have been conducted only on one variant. For example, the XC60 Recharge earns an TSP+ even though tests were conducted using gasoline-powered XC60 T5 and T6 models. Similarly, a C40 Recharge gets the award even though the actual test was conducted on a similar XC40 Recharge. Also, as with Mazda's lineup TSP+ rankings from earlier this year, some are carried over to 2022 model year cars from tests on previous model year cars. This is only when the model has not changed significantly. For example, the XC60's 2022 ranking was based on a 2018 model year's crash test. The IIHS conducts six tests on each car — a moderate overlap front crash, two small overlap front crashes for both driver and passenger, a side impact crash, a roof strength crush evaluation, and a head restraint test using just the car seat. The results are ranked out of four levels, with a green "Good" marker indicating the top tier. Beyond the crashes, Volvo earned top marks for standard safety features such as forward collision warning, automatic emergency braking, and pedestrian and cyclist detection. It should be noted that most Volvo models earned an "Acceptable" rating for ease of use of the LATCH safety seats. This is the second best rating, but does not affect crash worthiness, and won't matter if you don't use child seats. XC40 models received a "Poor" rating for its safety belt reminders, which IIHS deemed not loud or long enough. Some models like the S90 and XC60 received "Acceptable" ratings on headlights, with IIHS wishing the beams were brighter on turns. Despite these minor quibbles, the overall ratings are still very impressive. It should be noted that even the V60 and V90 wagons, which are (achingly beautiful but tragically) discontinued in America, also got TSP+ ratings though were not included in the 13-model 2022 count. Related Video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Volvo XC90 Earns IIHS Top Safety Pick+ Crash Test Rating

Volvo Cars reports theft of R&D data by hackers

STOCKHOLM — Volvo Cars said on Friday it had launched an investigation into a cyber security breach and the theft of some research and development data that could impact the company's operation. A spokesperson for the firm, majority owned by China's Geely Holding, said it had been approached by a third party, but declined to give any further details. "Investigations so far confirm that a limited amount of the company's R&D property has been stolen during the intrusion," the Swedish carmaker said in a statement. It added that "there may be an impact on the company's operation," without specifying what that might be. It said it did not see an impact on the security of its customers' cars or their personal data. The Gothenburg-based company said it had implemented security countermeasures to prevent further access to its property, while notifying relevant authorities. "Volvo Cars is conducting its own investigation and working with a third-party specialist to investigate the property theft," it said. Shares in Volvo Cars, whose IPO on Oct. 29 was the biggest in Europe this year, were down 3.2% at 1555 GMT.