Advantage GPS acquires Asset Tracking Technology
Mergers and acquisitions continue to permeate the entire automotive industry. Tuesday’s public development involved the GPS and risk mitigation spaces.
Advantage GPS announced the acquisition of Michigan-based Asset Tracking Technology, a distributor of GPS tracking devices for finance companies, buy-here, pay-here dealerships, fleet tracking and personal tracking devices.
According to a news release, the company has been a distributor for Advantage GPS serving vehicle finance clients throughout the Midwest.
Advantage GPS president David Meyer highlighted that the acquisition enables the company to provide more direct, in-person service and support for Advantage clients in the Midwest.
“I’ve known Greg Schultz for decades,” Meyer said in the news release. “He’s been an early-on, invaluable distribution partner for Advantage, prominent industry leader and long-term friend and advisor.
“Our decision to acquire the business not only enables Advantage to strengthen its operations and presence in the Midwest, but it will also, provide more direct, in-person service and support for Advantage clients,” Meyer continued.
Over the next several months, Schultz and the Asset Tracking Technology team will stay on to assist the Advantage team in ensuring a seamless transition.
As part of Advantage’s continuing expansion plan, the company indicated the new acquisition of Asset Tracking Technology will improve its ability to deliver modern analytics and advanced, risk mitigation technology solutions to more subprime automotive finance companies nationwide today and well into the future.
Advantage acknowledged that Asset Tracking Technology is just the first transaction of many to follow as the company plans to accelerate its growth strategy and consolidate the GPS tracking and risk mitigation market.
“Asset Tracking Technology has serviced hundreds of clients over the past two decades,” said Schultz, who was the previous owner of Asset Tracking Technology. “Our focus has always been on quality products and service.
“Advantage is a brand that is synonymous with quality and performance, and shares a common business culture. That’s why this consolidation makes sense now — I know our clients will be in good hands,” Schultz said.
Advantage’s technology is designed to deliver vehicle location and a host of intelligence that can monitor and assess finance risks in real time.
The company’s interactive dashboard can give finance companies both high-level and vehicle-specific, granular oversight of their automotive finance portfolio. The system is designed to prioritize profit obstacles and proactively notify managers of high-risk situations that further help prevent losses and mitigates their severity if they occur.
Advantage’s solutions portfolio includes wired and wireless devices, VIN verify products, custom APIs, pay-as-you-go options and features that can allow users to manage all their devices regardless of provider.