Published: 13 September 2016
Zenrin Company Ltd, is making a substantial investment in the US-based supplier of connected vehicle solutions, Abalta Technologies. The new relationship, which takes full advantage of both companies’ strong market positions and product portfolios, will allow Abalta to continue to deliver significant growth while operating independently.
Zenrin’s investment validates Abalta’s strategy and enables the company to accelerate investments in their core technologies including WebLink for branded OEM user experiences, SmartLink for over the air (OTA) updates, and Eolas mapping tools for location-based services.
Zenrin, which has been a leader in the mapping industry since 1948, is a pioneer in high-definition data products required for autonomous vehicles and geo-temporal databases needed for location-based information that evolves over time.
Michael O’Shea, Abalta’s CEO, said:
We’re excited to be working with such a thought leader, and are looking forward to combining our mapping and connected car know-how to accelerate the development of next-gen solutions for automotive.
The Japanese company, which has just embarked on a five-year growth plan, is targeting $700 million by 2020 in consolidated revenue by creating additional value in the location-based marketplace and by offering additional connected-car products and services.
Zenshi Takayama, President of Zenrin, said:
The investment in Abalta is a key element of our plan to grow our business globally. They have one of the strongest engineering teams in the industry and we are excited to work with them to advance the connected car industry. We value Abalta’s strong infotainment expertise, engineering capabilities, and mapping background. We look forward to offering a broader set of services to our automotive partners as a result.
Abalta’s platform enables unique branded experiences to be delivered from the smartphone to the car’s infotainment system over USB, Bluetooth or Wi-Fi. Abalta has unrivaled expertise across automotive and mobile platforms and maintains long-standing relationships with a portfolio of over 60 of the most recognized brands in the world.
Source: Abalta Technologies, Inc.