WABCO Forms Strategic Alliance with SmartDrive Systems to Extend Innovative Safety and Efficiency Solutions to Commercial Vehicle Fleets in North America
- WABCO expands into fast-growing fleet management solutions market in North America
- Innovative products and analytics services help fleets to lower fuel consumption, reduce collisions, and increase operational productivity
WABCO Holdings Inc. (NYSE: WBC), a leading global supplier of technologies to improve the safety and efficiency of commercial vehicles, today announced that it has formed a strategic alliance with SmartDrive Systems, a leader in performance management solutions that help fleets to lower fuel consumption and reduce collisions. This new alliance enables WABCO to expand its fleet management solutions to commercial vehicle fleets in North America.
WABCO made the announcement leading up to the 2014 Mid-America Trucking Show (MATS), one of the largest heavy duty trucking industry events in the world, held from March 27-29, 2014, in Louisville, Kentucky (USA).
WABCO and SmartDrive Systems will integrate their breakthrough products and services to enhance the safety and efficiency of commercial vehicle fleet operators in North America. For example, SmartDrive Systems fleet customers have reported collision cost reductions of up to 70 percent after the first year and fuel savings of up to 10 percent, while WABCO's OnGuard™ collision mitigation system so far has been protecting customers collectively for more than 6 billion miles in North America.
This new alliance will promote WABCO's award-winning SmartTrac™ stability control and OnGuard™ collision mitigation systems among other innovations proven to help fleets meet increasingly stringent safety requirements in an economically challenged industry. SmartDrive Systems' first of its kind open and extensible platform integrates information from data-rich vehicle systems such as WABCO's advanced braking and stability control technologies into its offerings in real-time. By leveraging this information, it offers fleet operators valued insights into driving events to determine what happened, when and why vehicle safety systems engaged, and the potential root causes of safety-related incidents.
As an industry leader in fuel management and driver safety, SmartDrive Systems offers video-based driving performance insights and analytics. This information can help fleets to reduce risky driving maneuvers that lead to collisions and drive up operational costs - and sustain those results over time. SmartDrive Systems maintains a database of more than 70 million analyzed risky driving events that power predictive analytics and real-time risk identification.
New products and fleet management services arising from the strategic alliance are expected to unlock the untapped value of information gained from vehicle safety technologies, providing fleet customers with a greater return on their vehicles' safety and efficiency investments. Anticipated benefits include administrative time savings, fewer cargo compensation claims, lower accident repair costs, better insurance rates and lower fuel bills.
"We are excited to partner with SmartDrive Systems as we further execute WABCO's strategy to extend our fleet management solutions to commercial vehicle fleet operators in North America," said Nik Varty, President, WABCO Americas. "The integration of comprehensive real-time data gathered from WABCO's data-rich onboard advanced braking, stability control and efficiency systems - together with SmartDrive Systems' video-based driver performance management systems and data analytics services - will create significant value for fleet customers. This alliance offers fleet owners and operators an avenue to reduce fuel consumption, improve operational productivity, and further increase vehicle safety."
"Commercial vehicle fleet operators are struggling to gain value from the significant volumes of data generated by their on-board safety technologies - it's often fragmented and difficult to access quickly when safety-related events occur," said Steve Mitgang, CEO, SmartDrive Systems. "By taking advantage of SmartDrive's open-platform approach and the solutions we will deliver through this alliance, we will provide a unified view of driving information that measures the broadest spectrum of risk. This will enable fleets to quickly understand the nature and potential root cause of their exposure and measurably reduce that risk over time."
Sales, distribution and customer support for the products featured within the partners' alliance framework will be provided in North America by Meritor WABCO, the joint venture between WABCO Holdings and Meritor Inc.
"Today's announcement follows WABCO's recent acquisition of Transics International," said Nick Rens, WABCO Executive Officer and Vice President, Trailer Systems, Aftermarket and Off-Highway. "Both initiatives represent key milestones for WABCO as it continues to execute on a global strategy to extend our fleet management solutions to commercial vehicle fleet operators worldwide."
WABCO acquired Transics International, a market leader in Europe, for EUR 111.1 million (USD 152 million) a month ago. Transics International provides seamless fleet management solutions that help commercial vehicle fleet operators to effectively and more efficiently manage their trucks, trailers, drivers, cargo and orders in real-time. Transics International serves more than 1,300 road transport and logistics companies across Europe connecting over 85,000 vehicles.
WABCO at MATS 2014: Booth 32805 in the South Wing
Kentucky Exposition Center, Louisville, Kentucky, March 27-29, 2014
OnGuard™ collision mitigation system "Ride-N-Drive," March 26-28, 2014 (sign up at WABCO booth 32805)
About SmartDrive Systems
SmartDrive Systems gives fleets and drivers unprecedented driving performance insight and analysis, helping save fuel, expenses and lives. Its video analysis, predictive analytics and personalized performance program help fleets improve driving skills, lower operating costs and deliver significant ROI. With an easy-to-use managed service, fleets and drivers can access and self-manage driving performance anytime, anywhere. The company has compiled the world's largest storehouse of more than 70 million analyzed risky-driving events. SmartDrive Systems is based in San Diego, Calif., and employs more than 400 people worldwide. For more information, visit www.smartdrive.net
WABCO Fahrzeugsysteme GmbH
WABCO (NYSE: WBC) is a leading global supplier of technologies and control systems for the safety and efficiency of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough electronic, mechanical and mechatronic technologies for braking, stability and transmission automation systems supplied to the world's leading commercial truck, bus and trailer manufacturers. With sales of $2.7 billion in 2013, WABCO is headquartered in Brussels, Belgium. For more information, visit www.wabco-auto.com