CalAmp And Localiza Sign Multi-Year Agreement Reimagining The Car Rental Industry In Brazil

Rhea-AI Summary

CalAmp (Nasdaq: CAMP) and Localiza, South America's largest car rental operator, have signed a multi-year agreement aimed at revolutionizing the car rental experience in Brazil. This partnership builds on a collaboration that began in 2015, where Localiza equipped thousands of vehicles with CalAmp's telematics technology. The initiative will enhance fleet management through AI-enabled technology, improve operational efficiency, and introduce a subscription-based rental program, potentially increasing customer access and satisfaction.

Positive

• Strategic multi-year partnership with Localiza enhances market presence in Brazil.
• Integration of AI-enabled telematics technology improves fleet management operations.
• Introduction of subscription-based car rental program increases consumer access and boosts customer satisfaction.

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• None.

BELO HORIZONTE, Brazil and IRVINE, Calif., Jan. 21, 2021 /PRNewswire/ -- CalAmp (Nasdaq: CAMP), a global technology solutions pioneer transforming the mobile connected economy, and Localiza (B3: RENT3 ant OTCQX: LZRFY), the largest car rental operator in South America, today announced a multi-year, enterprise agreement that promises to reimagine the car rental experience for both consumers and fleet operators in Brazil.

With an integrated business model, Localiza, the largest mobility player in Brazil, today has a well-established presence in car rental and franchising, in South America, and fleet rental in Brazil.

CalAmp and Localiza began working together in 2015 to install smart telematics on several hundred vehicles in Localiza's fleet. The partnership has grown to thousands of vehicles currently equipped with CalAmp's telematics technology enabling enterprise fleet organizations, like Localiza, and others to scale their fleet operations with ease.

"This is an important partnership for CalAmp," said Arym Diamond, chief revenue officer for CalAmp. "CalAmp is dedicated to international expansion and excited to increase our reach throughout Latin America working with Localiza as our partner. Together, we are working to add more value-added telematics technologies for all types of fleet management applications across the globe."

This partnership combines CalAmp's AI-enabled connected vehicle technology with the business and domain expertise of Localiza to deliver integrated, user-friendly proprietary web-based software that provides fleet operators with a seamless end-to-end solution. With the support of CalAmp, Localiza is developing new technologies and solutions for mobility, creating new business models, digital transformation and data-driven decisions to improve efficiency, reduce costs, and increase fleet utilization and customer satisfaction, with a superior user experience.

By adopting CalAmp´s connected vehicle technology, Localiza and CalAmp are leading the digital transformation across the car rental industry. With CalAmp's intelligent telematics powering connectivity and Localiza's Fleet Management Software Platform, Localiza can manage vehicles across its rental fleet in real-time to better understand vehicle status, such as battery health, road traffic, location, preventative maintenance and servicing.

"This multi-year partnership represents an important milestone in our journey to continuously offer innovative mobility solutions to our customers," said João Ávila, Operations VP of Localiza.

The introduction of a subscription-based car rental program positions Localiza at the forefront of innovation within the car rental market. This unique offering provides consumers and companies with regular access to a diverse inventory of vehicles and cost-effective mobility alternatives. And for drivers on ride-sharing apps, such as Uber, it reduces the barrier to entry, which opens up opportunities for more drivers and provides greater access to ride-sharing services and cost savings for end consumers.

"CalAmp has been very impressed with the innovations Localiza has been spearheading in Brazil and the speed at which they are revolutionizing the connected car space," said Jeff Clark, SVP of product management for CalAmp. "We are honored to be the chosen platform for these new business innovations in the car rental space for Latin America and other markets worldwide."

About Localiza
Localiza operates an integrated business platform comprised of car rental, franchising and fleet rental. It is the largest car rental company in South America with more than 580 rental locations and a fleet larger than 275,000 cars in Brazil and six other countries in South America. We have been recognized for excellent customer service and honored with numerous awards in this category. In Brazil, Localiza has a market share of 32.3% in the RAC and is larger than the second and third ranked competitors combined. Localiza is listed at Novo Mercado, the highest corporate governance level of the Brazilian Stock Exchange since 2005.

About CalAmp
CalAmp (Nasdaq: CAMP) is a global technology solutions pioneer transforming the mobile connected economy. We help reinvent business and improve lives around the globe with technology solutions that streamline complex mobile IoT deployments and bring intelligence to the edge. Our software and subscription-based services, scalable cloud platform and intelligent devices collect and assess business-critical data from mobile assets and their contents. We call this The New How, facilitating efficient decision making, optimizing mobile asset utilization and improving road safety. Headquartered in Irvine, California, CalAmp has been publicly traded since 1983 and has 20 million products installed and over 1.3 million software and services subscribers worldwide.  LoJack^®, Tracker^™ and Here Comes The Bus^® are CalAmp brands. For more information, visit calamp.com, or LinkedIn, Facebook, Twitter, YouTube or CalAmp Blog.     

CalAmp, LoJack, Tracker, Here Comes The Bus, iOn Vision and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

 

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SOURCE CalAmp

FAQ

What is the recent partnership between CalAmp and Localiza?

CalAmp and Localiza have signed a multi-year agreement to transform the car rental experience in Brazil, enhancing fleet management with advanced telematics.

How does the CalAmp and Localiza deal impact the car rental industry in Brazil?

The partnership is expected to improve operational efficiency and customer satisfaction, positioning Localiza as a leader in innovative mobility solutions.

What technology is being used in the CalAmp and Localiza partnership?

CalAmp's AI-enabled telematics technology will be integrated to streamline fleet management and rental operations.

When was the CalAmp and Localiza partnership announced?

The partnership was announced on January 21, 2021.

What is CalAmp's stock symbol?

CalAmp is traded on Nasdaq under the symbol CAMP.