DMI, a global end-to-end mobility solutions developer, has announced the acquisition of Detroit-based Lochbridge, a market leader in bringing IoT solutions to the automotive, healthcare, financial services and manufacturing sectors. This is a major move into the IoT and, more specifically, the Connected Transportation market for the company, according to the announcement.
Through proven and award-winning deployments for some of the most ambitious adopters of connectivity, Lochbridge has enabled more than $1.5 billion in new annual revenues for its clients. With this acquisition, the companies plan to help organizations across industries rethink how they use mobility and digital solutions to better serve end customers.
With the Lochbridge deal, DMI will expand its offerings for connecting devices, including:
- Connected vehicles
- Monetizing a connected world
- Impact with the biggest innovators
“Organizations across industries are actively seeking new ways to engage their customers wherever, whenever and however they want and to monetize those interactions,” said Jay Sunny Bajaj, founder and CEO, DMI. “DMI's acquisition of Lochbridge is a natural extension of our mission to help our customers win in a connected world. With our depth in mobility, commerce, analytics and modernizing platforms for the connected world, we are well positioned to be the partner of choice for our customers on this journey.”
“Lochbridge has focused on digital innovation and our ability to engineer a connected world. Through connectivity, extraction and analytics, we create a 'sixth sense' into businesses and products,” said Romil Bahl, president and CEO, Lochbridge. “This excites customers with new connected experiences and delivers new sources of revenue and cost savings. What excites me is that DMI and Lochbridge together represent the world's only mobility + IoT + digital services company, underpinned by best-in-class analytics.”
Edited by
Alicia Young
