Sensata Insights Expands Analytics Capabilities with Acquisition of Elastic M2M

Rhea-AI Summary

Sensata Technologies (NYSE: ST) announced the acquisition of Elastic M2M Inc., a leader in IoT analytics for operational assets. Elastic M2M's cloud platform enables telematics service providers to leverage advanced sensor-based insights for improved decision-making across various sectors including transportation and logistics. The acquisition enhances Sensata's capabilities, following previous purchases like Xirgo Technologies and SmartWitness, and aims to bolster data solutions for fleet operators and asset owners. Financial details weren't disclosed.

Positive

• Acquisition enhances Sensata's data analytics capabilities for telematics service providers.
• Elastic M2M's technology aligns with Sensata's strategy, improving operational insights.
• Expands Sensata's talent pool with experienced software engineers from Elastic M2M.

Negative

• None.

SWINDON, England--(BUSINESS WIRE)-- Sensata Technologies (NYSE: ST) today announced the acquisition of Elastic M2M Inc., a privately-held innovator of connected intelligence for operational assets across heavy-duty transport, warehouse, supply chain and logistics, industrial, light-duty passenger car, and a variety of other industry segments. Elastic M2M primarily serves telematics service providers (“TSPs”) and resellers, enabling them to leverage Elastic M2M’s cloud platform and analytics capabilities to deliver sensor-based operational insights to their end users. Financial terms of the transaction were not disclosed.

Since its founding in 2013, Elastic M2M has been a pioneer in delivering flexible, scalable, cost-effective and intuitive IoT analytics for TSPs and their end customers. The Company’s IoT cloud platform utilizes machine learning and AI capabilities to digest and analyze an increasingly rich amount of sensor and camera data from connected assets in order to enable customers to make better operational decisions. The Company’s solutions work with any type of operational asset and are easy to deploy on top of existing IoT tools to address business-specific issues and rapidly boost efficiency.

“Consistent with Sensata Insights’ strategy to provide high-value data insights and solutions to TSPs, and ultimately to their fleet operators and asset owners, the acquisition of Elastic M2M augments our cloud capabilities critical to delivering actionable sensor-based insights, an increasingly important capability in this fast-growing industry segment,” said Jeff Cote, CEO and President of Sensata Technologies. “Elastic M2M expands on Sensata’s recent acquisitions of Xirgo Technologies and SmartWitness and our extensive sensor portfolio by adding leading software and analytics solutions for fleets and a talented team of software engineers, with a highly complementary channel strategy leveraging TSP relationships as partners in delivering these solutions. We look forward to the management team and employees of Elastic M2M joining Sensata.”

About Sensata Technologies
Sensata Technologies is a global industrial technology company striving to create a cleaner, more efficient, electrified and connected world. Through its broad portfolio of sensors, electrical protection components and sensor-rich solutions which create valuable business insights, Sensata helps its customers address increasingly complex engineering and operating performance requirements. With more than 21,000 employees and global operations in 13 countries, Sensata serves customers in the automotive, heavy vehicle & off-road, industrial, and aerospace markets. Learn more at www.sensata.com and follow us on LinkedIn, Facebook and Twitter.

About Elastic M2M
Elastic M2M provides a highly scalable and flexible platform to build connected applications and maximize the value of fleet and business user data using powerful analytics and machine learning. Based in Reston, VA, the Company’s solution rapidly delivers cloud-based high-impact data ingest and visualization solutions across multiple industries. Elastic M2M is a recipient of the IoT Evolution Magazine IoT Platform Leadership Award. Learn more at www.elasticm2m.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220222005436/en/

Investors:

Jacob Sayer

+1 (508) 236-1666

jsayer@sensata.com

Media:

Alexia Taxiarchos

+1 (617) 259-8172

ataxiarchos@sensata.com

Source: Sensata Technologies

FAQ

What is the purpose of Sensata's acquisition of Elastic M2M?

The acquisition aims to enhance Sensata's cloud capabilities for providing actionable sensor-based insights to telematics service providers and fleet operators.

When was the acquisition of Elastic M2M by Sensata announced?

The acquisition was announced on February 22, 2022.

What is Elastic M2M's core offering?

Elastic M2M provides a cloud platform that utilizes IoT analytics for operational assets, helping to maximize data value in various industries.

How does this acquisition impact Sensata's future business operations?

The acquisition is expected to strengthen Sensata's position in the fast-growing IoT analytics market, enhancing their ability to deliver advanced data insights.