| CalAmp Corporation | |
| Type: | Private |
| Traded As: | NASDAQ: (1983-2024) |
| Location City: | Irvine, California |
| Location Country: | U.S. |
| Key People: | Chris Adams (CEO) |
| Num Employees: | 1,080 (May 2020)[1] |
CalAmp Corporation is an Irvine, California-based provider of Internet of things (IoT) software applications, cloud services, data intelligence and telematics products and services. The company's technology includes edge computing devices and SaaS-based applications for remotely tracking and managing vehicles, drivers, cargo and other mobile assets as part of a fleet telematics system. The company also owns the patents and trademarks for the LoJack Stolen Vehicle Recovery System and provides connected car and lot management products.[2]
CalAmp was founded as California Amplifier Inc. in Newbury Park, California in 1981, by Jacob Inbar and David Nichols, who worked together at a microwave division of Eaton Corporation.[3] The company originally made amplifiers and other equipment used to transmit microwave signals for satellite video and broadband communications.[4] [5] [6] The company began trading on NASDAQ in 1983.[6] [4]
By 1986, the company had relocated to Camarillo, California, and stopped making amplifiers for the consumer market.[3]
In 1999, the company entered the direct broadcast satellite (DBS) market by acquiring Texas-based Gardiner Group, a satellite dish component provider.[6]
In December 2003, the company acquired communications software company Vytek Corp, for $76.8 million.[7]
In March 2004, the company relocated to Oxnard, California.[8] In August, the company changed its name to CalAmp Corp.[9]
In May 2006, the company acquired Montreal, Canada-based wireless radio company Dataradio, to expand its wireless data communications business for public safety and machine to machine (M2M) applications.[10] It also acquired the mobile resource management line from Carlsbad, California-based location tracking company TechnoCom to offer enterprise asset tracking systems and fleet management applications.[11]
In 2007, the company acquired the Aercept Vehicle Tracking business from wireless telematics service provider AirIQ, expanding its automatic vehicle location (AVL) capabilities.[12]
By 2010, the company was focused on selling IoT hardware, including the TCU, and DBS solutions.[2]
In December 2012, the company announced the acquisition of Herndon, Virginia-based fleet management application provider Wireless Matrix Corp for $53 million.[13]
In February 2013, the company announced a stock offering that was intended in part to fund the Wireless Matrix Corp purchase.[14]
In April 2015, CalAmp bought telematics startup Crashboxx, a provider of a risk management vehicle tracking system for insurance companies and fleet operators.[15]
By 2016, the company had phased out its DBS business and shifted its focus to SaaS-based telematics products and services.[2] In February, CalAmp announced it was acquiring stolen vehicle recovery company LoJack Corporation, for $134 million, and the deal closed in March.[16] [17] In April, the company announced it was moving its headquarters from Oxnard to Irvine, California.[18] In September, the company introduced the LoJack LotSmart automotive dealer inventory management solution and LoJack SureDrive connected car app.[19]
In March 2016, CalAmp acquired the LoJack company for $134 million.[20]
In January 2019, the company launched a smartwatch-sized pet tracking device called Maven, in conjunction with logistics software company CargoSense.[21] In March 2019, the company acquired two LoJack licensees, Car Track in Mexico, and Tracker in the United Kingdom.[22] In April, the company acquired fellow telematics provider Synovia Solutions for $50 million, a company known for its applications in public transport and school bus tracking.[23] In March 2020, CEO Michael Burdiek retired, and was replaced by Jeff Gardner.[24]
In 2024, CalAmp filed for Chapter 11 bankruptcy, allowing for a secured deal with its lenders to swap its $229 million in bonds for equity. The company stated that its financial state has been bleak for many years, blaming its acquisition of LoJack and an ill-fated program that stretches customer's payment terms.[25] After CalAmp restructured, it was taken private by a company called Lynrock Lake LP.[26]
