LOS ANGELES, Nov. 24, 2015 - The biggest nightmare for a car owner is realizing that your vehicle has been stolen. A vehicle, for most, is our first major investment and relied upon source of transportation. Returning to a parking spot and realizing one's car is not there is a devastating financial loss. That is, unless, you have a Tesla (TSLA) . After attending an event, The Pinkowskis found that their Tesla had disappeared from a parking lot. However, what seemed like a startling and helpless situation for the couple in British Columbia turned out to be an unfortunate situation for thief.
The Pinkowskis were able to track their stolen vehicle's movements through a smartphone app and provide information on the car's movements to a 9-1-1 operator. The thief proved to be unsuccessful in the attempt to steal a trackable high-tech luxury vehicle, and their Tesla was returned. Over time, this kind of sophisticated vehicle recovery and other consumer automotive services will become common in all vehicles, and one company that is positioned to be a major player is IGEN Networks Corp. (IGEN) .
IGEN Networks invests in and manages companies that deliver cloud-based services through Machine-to-Machine (M2M) device technologies for the protection and management of mobile assets and commercial fleets. The company offers a range of self-provisioning applications which are used to manage and recover stolen assets, provide access to roadside assistance programs, and improve productivity of commercial fleets. IGEN Networks' subsidiary, Nimbo LLC, provides robust wireless M2M solutions that create peace of mind across industries, specializing in providing integrated GPS tracking and vehicle warning solutions for various markets including Automotive, Power Sport, Subprime Automotive and Power Sport Finance, Fleet Vehicles, Emergency Vehicles, and Law Enforcement.
The news of this stolen Tesla demonstrates the kind of technology, offered by IGEN Networks that will soon be available to the average consumer. "The Tesla article is indicative of the type of services available for all new cars during the next five years, not just high-end vehicles," said Neil Chan, CEO of IGEN Networks. "The ability to access real-time information on the vehicle is another example of empowering the consumer to take the necessary actions to protect their assets and family."
Real-Time Information to Protect Drivers and Property
Earlier this month, IGEN Networks signed a non-binding MOU to acquire Webtrack, a Mexican private corporation that provides end-to-end GPS-based vehicle telematics and analytics services in Mexico, at the purchase price of $5 million. In May, the company's wholly-owned subsidiary, Nimbo LLC, signed a major partnership agreement with Verizon Communications, Inc. (VZ) . Also, in June, the company's Southern California automotive dealership program was announced to launch a partnership with Star Shield Solutions LLC and Sky Force Technology Inc.
The future of vehicle recovery not only tracks and locates; it empowers and protects the consumer. Through IGEN Networks' sales milestones and strategic partnerships, the company is positioned to be recognized as a world-class leader in the consumer automotive industry.
"I envision that within the next five years, automotive consumers will be able to access or provide access to real-time information not only on their vehicles but also how they drive, assessing road conditions, even their own stress levels while driving the vehicle," said Chan; "very powerful information that the consumer will be able to manage - for example what if the insurance companies started to discount their premiums for a real time assessment of your driving habits? Might be worthwhile for many….assuming you are a good driver."
For more information about IGEN Networks, visit www.igen-networks.com.
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