Sensata Insights Expands Analytics Capabilities with Acquisition of Elastic M2M
23 February 2022 - 5:00AM
Business Wire
Sensata Technologies (NYSE: ST) today announced the acquisition
of Elastic M2M Inc., a privately-held innovator of connected
intelligence for operational assets across heavy-duty transport,
warehouse, supply chain and logistics, industrial, light-duty
passenger car, and a variety of other industry segments. Elastic
M2M primarily serves telematics service providers (“TSPs”) and
resellers, enabling them to leverage Elastic M2M’s cloud platform
and analytics capabilities to deliver sensor-based operational
insights to their end users. Financial terms of the transaction
were not disclosed.
Since its founding in 2013, Elastic M2M has been a pioneer in
delivering flexible, scalable, cost-effective and intuitive IoT
analytics for TSPs and their end customers. The Company’s IoT cloud
platform utilizes machine learning and AI capabilities to digest
and analyze an increasingly rich amount of sensor and camera data
from connected assets in order to enable customers to make better
operational decisions. The Company’s solutions work with any type
of operational asset and are easy to deploy on top of existing IoT
tools to address business-specific issues and rapidly boost
efficiency.
“Consistent with Sensata Insights’ strategy to provide
high-value data insights and solutions to TSPs, and ultimately to
their fleet operators and asset owners, the acquisition of Elastic
M2M augments our cloud capabilities critical to delivering
actionable sensor-based insights, an increasingly important
capability in this fast-growing industry segment,” said Jeff Cote,
CEO and President of Sensata Technologies. “Elastic M2M expands on
Sensata’s recent acquisitions of Xirgo Technologies and
SmartWitness and our extensive sensor portfolio by adding leading
software and analytics solutions for fleets and a talented team of
software engineers, with a highly complementary channel strategy
leveraging TSP relationships as partners in delivering these
solutions. We look forward to the management team and employees of
Elastic M2M joining Sensata.”
About Sensata Technologies Sensata Technologies is a
global industrial technology company striving to create a cleaner,
more efficient, electrified and connected world. Through its broad
portfolio of sensors, electrical protection components and
sensor-rich solutions which create valuable business insights,
Sensata helps its customers address increasingly complex
engineering and operating performance requirements. With more than
21,000 employees and global operations in 13 countries, Sensata
serves customers in the automotive, heavy vehicle & off-road,
industrial, and aerospace markets. Learn more at www.sensata.com
and follow us on LinkedIn, Facebook and Twitter.
About Elastic M2M Elastic M2M provides a highly scalable
and flexible platform to build connected applications and maximize
the value of fleet and business user data using powerful analytics
and machine learning. Based in Reston, VA, the Company’s solution
rapidly delivers cloud-based high-impact data ingest and
visualization solutions across multiple industries. Elastic M2M is
a recipient of the IoT Evolution Magazine IoT Platform Leadership
Award. Learn more at www.elasticm2m.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220222005436/en/
Investors: Jacob Sayer +1 (508) 236-1666
jsayer@sensata.com
Media: Alexia Taxiarchos +1 (617) 259-8172
ataxiarchos@sensata.com
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