Company Positioned to Emerge as a Leading Global Provider of Telematics and Connected Vehicle Services
BOSTON, Mass., Sept. 16 /Xinhua-PRNewswire/ -- Cross Country Automotive Services (Cross Country), a provider of vehicle and driver services and programs, announced today it has acquired ATX Group, a leading independent telematics services provider. Financial terms of the transaction were not disclosed.
ATX, based in Irving, Texas, is a strategic addition to Cross Country's broadening service portfolio. The acquisition extends Cross Country's telematics offerings and its ability to deliver vehicle and driver services to automotive, insurance, vehicle aftermarket and other consumer-facing industries. The acquisition also expands Cross Country's client base and infrastructure to Europe and complements its presence in the China market. ATX currently serves several global automobile manufacturer clients (representing approximately one million vehicle owners) with telematics programs in Western Europe, the U.S., Canada and Puerto Rico.
The combined company brings nearly 50 years of intelligent solutions and experience of serving more than 76 million customers spread across leading automotive, insurance and other clients. It represents an expanded international network of state-of-the-art voice and data centers handling over 16 million calls annually, and experienced personnel who have developed, launched and managed private-label driver assistance programs focused on extending customer brand loyalty for their clients. The combined entity will generate revenues of more than $400 million and has a highly diversified client base. It employs over 2,300 employees with four data centers and seven contact and CRM (customer relationship management) centers in Arizona, Florida, Massachusetts, Texas, Canada, and Germany.
"This is an important milestone for Cross Country. ATX's technology, talent and clients complement Cross Country's business and extend our ability to deliver best-in-class products and services to our clients," said Michael A Saxton, CEO of Cross Country Automotive Services. "ATX and Cross Country bring together their heritage and commitment to safety and security and the ability to quickly expand additional products and services while bringing scale through our combined operations that will accommodate the industry's rapid growth. At the same time, Cross Country will continue to serve our clients with our dedicated and award-winning support of their brands and their most valued assets -- their customers," said Saxton.
Steven A. Millstein, CEO and president, ATX Group, said, "The merged company gives automotive OEMs a clear choice in the connected vehicle service provider marketplace, between new entrants with power point portfolios and a company with extensive combined experience that has proven infrastructures, a long record of performance, delivery and customized solutions to meet variable business needs. Together we're a company built around promises delivered, not merely on delivering promises."
Under the terms of the agreement, Saxton is CEO of the combined entity and Millstein is now president of Cross Country Automotive Services and general manager, telematics.
ABOUT CROSS COUNTRY:
Headquartered in Medford, Massachusetts, Cross Country Automotive Services ( http://www.crosscountry-auto.com ) is a leading provider of technology-enabled vehicle and driver programs in North America. Cross Country's 36-year heritage has signified the company's dedication to providing personalized, innovative solutions that enhance customer loyalty for its clients and improve the overall driving experience for their customers. Since the company's founding, Cross Country has developed award-winning vehicle and driver programs to leading automotive manufacturers, insurance providers, wireless companies and other leading corporate clients. Cross Country Automotive Services is a member of The Cross Country Group, one of the largest privately held providers of customer service programs in North America.
ABOUT ATX:
Based in Dallas-Fort Worth, Texas, and Dusseldorf, Germany, ATX Group ( http://www.atxg.com ) is the world's largest provider of customized telematics services to the automotive industry, serving both North America and Europe. ATX telematics services are designed to provide enhanced safety, security and driving convenience to vehicle owners. These services include location-specific emergency and roadside assistance, automatic collision notification, stolen vehicle recovery, remote diagnostics and real-time traffic and navigation assistance. ATX also customizes telematics services to help automobile manufacturers and their affiliated dealerships to use telematics data to reduce costs, enhance vehicle servicing, and more closely manage customer relationships. ATX services are provided to vehicle owners through the brand names of its customers -- BMW, PSA Peugeot Citroen, Mercedes-Benz, Maybach, and Rolls-Royce Motor Cars.
