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Parties Will Also Collaborate to Leverage Airbiquity Over-the-Air Technology for the Next Generation of Connected Vehicle
SEATTLE, March 12, 2019 /PRNewswire/ -- Airbiquity®, a long-standing global leader in connected vehicle services, today announced a $15 million minority investment in the company from Toyota Motor Corporation, DENSO Corporation, and Toyota Tsusho Corporation. This investment will support Airbiquity's expansion of the development of connected vehicle software technology and cloud-based services.
Additionally, the four parties will collaborate to accelerate the development and commercialization of an automotive grade over-the-air (OTA) system enabling remote vehicle software updates and management; increased production and operational efficiencies throughout the vehicle lifecycle; and new mobility services powered by data and analytics. Central to this alliance is Airbiquity's market-leading OTAmatic™ software and data management offering for connected vehicles.
"We are delighted to receive investment from three of the most successful corporations in the automotive industry," said Kamyar Moinzadeh, President and CEO of Airbiquity. "This is an exciting time for our company, and we look forward to working with our new strategic partners to optimize and leverage OTAmatic for the next generation of connected vehicle."
To learn more about Airbiquity, visit www.airbiquity.com.
About Airbiquity
Airbiquity® is a global leader in connected vehicle services and pioneer in the development and engineering of automotive telematics technology. At the forefront of automotive innovation, Airbiquity operates the industry's most advanced cloud-based connected vehicle service delivery platform, Choreo™, and supports all leading use cases including over-the-air (OTA) software update and data management. Working with Airbiquity, automakers and automotive suppliers have deployed highly scalable, manageable, and secure connected vehicle service programs meeting the needs of their customers in over 60 countries around the world. Learn more about Airbiquity at www.airbiquity.com or join the conversation @Airbiquity. Airbiquity is a trademark of Airbiquity Inc.
About DENSO Corporation
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has approximately 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US $48.1 billion. Last fiscal year, DENSO spent 8.8 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.denso.com, or visit our media website at www.denso.com/global/en/news/media-center/
About Toyota Tsusho Corporation
Toyota Tsusho Corporation, listed on both Nagoya Stock Exchange and Tokyo Stock Exchange, was founded in 1948 as the trading company for the Toyota Group. Today, Toyota Tsusho operates in more than 120 countries with approximately 57,000 employees that are all striving to contribute to the creation of prosperous societies. The company has seven operating divisions focused around three business fields, which are the Mobility field, the Resources & Environment field, and the Life & Community field. In addition, the company has launched the Next Mobility Strategy in April 2017, and now has dedicated members in each operating division that are working on this new strategy.
CONTACT:
Shelby Simonson
Airbiquity PR
1-206-264-8220
media@airbiquity.com
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