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Reports a deal to purchase Trefilog’s locating activity for up to NIS 20 million. Shagrir will operate through Trefilog’s technology platform and will receive an exclusive license in Israel that is not limited in time for its use and the company’s intellectual property for locating purposes.
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Shagrir will transfer a cash payment of NIS 6 million and an additional NIS 14 million, depending on the performance of the new activity. Trafilog Masada will provide exclusive services to the Ambassador in the field of locating, including the development and customization of its product, as well as its supply and maintenance services. And while its locator activity will be sold to the ambassador, in the areas of diagnostics, vehicle fleet management and advanced vehicle solutions, Trefilog will continue to operate independently in Israel.
“Acquiring the locator and synergy activity with Trefilog will allow us to provide a holistic solution to our end customers and appeal to more customers,” he said today. David Michael, CEO of the Ambassador Group.
Shagrir provides road services and operates car service centers, it also owns car sharing and rental activities through its subsidiary Goto (formerly Car2Go). Trafilog specializes in advanced Big-Data and Machine Learning-based diagnostic solutions that enable mechanical fault forecasting, driver behavior monitoring and real-time accident detection and analysis in favor of optimizing vehicle fleets and lowering their operating costs. About a year ago, the Tene Fund entered an investment in the company and today it is the largest shareholder in it
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