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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.

Ford family keeps special voting rights

Ford Motor Company has a dual-class stock structure of Class A and Class B shares. The roughly three billion Class A shares are for the general public like you and me, while the roughly 71 million Class B shares are all owned by the Ford family. Each Class A share gets the shareholder one vote, each Class B share is worth 16 votes, the result being that Common Stock holders control about 60 percent of the company while the Ford family controls 40 percent even though it holds far fewer shares. The only way that could ever change would be if the Fords sell their Class B shares, but even so, Class B shares revert to Class A when sold outside the family, so they'd have to sell a whole bunch of them.
A contingent of Class A shareholders think the dual-class system is unfair, and for the past few years a vote's been held during the annual shareholders meeting to end it. It has failed every time, as it just did again during the meeting held this week. A smidge over 33 percent voted to end the dual system, outvoted by the 67 percent who are happy with the way Ford is going - unsurprising in view of a corporate turnaround that will be part of business-class curricula for years to come.
On the sidelines, Ford elected Ellen R. Marram to the post of independent director, the first woman to hold the job. The former Tropicana CEO and 20-year Ford board member replaces retiring board member Irvine Hockaday who helped bring Alan Mulally to the CEO position.

Ford tries to get a better handle on what EV drivers want

Ford says more than nine out of 10 electric-vehicle drivers indicate that their current EV won't be their last. Which is a good thing. Given the Blue Oval's most recent green-car sales, that next EV purchase couldn't come soon enough. The automaker took a poll of 10,000 electric-vehicle owners in the US and found that, among other things, more than 80 percent either already have or are considering installing solar panels to enable off-the-grid vehicle charging from home. Less surprising, these drivers use their smartphones to do things like check the car's battery charge and remotely turn on or off their cars' air-conditioning or heating systems before setting off on a drive. Of course, these folks want a little bit more from their smartphone apps. Most handy would be a public charging station locator as well as the ability to reserve and pay for electric charging sessions in advance. And more fast-charging stations appear to be in store, as almost half of the battery-electric vehicle drivers use conventional 110-volt outlets to charge their vehicles at home. Ford is hoping that these repeat-driver indicators bode for good things in the future. Last month, the automaker sold almost 5,800 hybrids, plug-in hybrids, and battery-electric vehicles in the US. That was down 27 percent from a year earlier. Notably, Ford Focus Electric sales dropped 32 percent from a year earlier to just 135 units, and have fallen 16 percent for the year. It's not just Ford that's facing difficulties. US plug-in vehicle sales overall dropped 22 percent from a year earlier to about 8,600 units. Related Video: Featured Gallery 2012 Ford Focus Electric: Quick Spin View 18 Photos News Source: FordImage Credit: Copyright 2015 Sebastian Blanco / AOL Green Ford Green Culture Smartphone Electric PHEV app