LoJack enters the cargo security market
Licensing deal with SC-Integrity allows the latter to market products under the LoJack in Transit brand name
Westwood, Massachusetts-based LoJack, a company best known for its anti-car theft tracking systems, has decided to enter the cargo security market with an investment in Bothell, Washington-based SC-integrity, a supplier of wireless-enabled supply chain security services. Cargo losses total $50 billion annually, and LoJack is determined to grab market share in the business of preventing them. LoJack, however, will not be developing its own products. Instead the company will allow SC-Integrity to leverage its brand in a series of products to be known as LoJack in Transit. In return, LoJack will recieve a “significant minority stake in SC-Integrity.”
“Our agreement with LoJack gives us the immediate benefit of leveraging the company’s trusted brand, which is synonymous with tracking and recovery,” said SC-integrity CEO Denis duNann. “Combining our collective knowledge enables the two organizations to form a powerhouse in the cargo recovery arena that no other company can match.”
-read more in this company news release; company Web sites: LoJack | SC-Integrity
