DMI Acquires Lochbridge to Enter IoT Market
May 17 2017
Lochbridge, a Detroit-based IoT services company developing solutions for the automotive, healthcare, financial services, and manufacturing sectors was acquired by DMI (Digital Management Inc.). The acquisition was announced on 8 May 2017. The terms of the deal were not disclosed.
DMI is an end-to-end mobility services company which provides enterprise mobility solutions. The acquisition will help DMI augment its mobility, commerce, analytics, and mobility platform offerings with IoT capabilities. Furthermore, the company will extend its current offerings to the connected car and IoT market where Lochbridge already has a strong presence.
On being asked if tech giants such as Apple and Google pose a threat to connected car companies as the former enter this industry, Lochbridge’s VP Raj Paul said that “Last year we commissioned a study which shows a huge gap in the consumer needs versus industry offerings. Nearly half of the respondents, including two-thirds of the Millennials, want to access the same apps on their phones. Unless the automotive industry satisfies this need, the door will be open for technology players, such as Apple and Google, to capitalize on the opportunity”.
DMI, the company which acquired Lochbridge has customers in multiple industries including retail, energy, government, and wearables. DMI and Lochbridge have collectively worked with the world’s top five automobile OEMs, Tennant Company, and Covenant Transport.
+ Lochbridge provides IoT solutions such as Application services, Business Intelligence, DevOps, digital enablement, and IoT solutions.
+ There's a considerable overlap in industries where both Lochbridge and DMI serve. This will help them cross-sell services to existing and new customers.
+ DMI has raised more than $8M in four rounds since Oct, 2010.
Smart lighting can provide increased energy efficiency and cost savings solutions to cities around the world. pic.twitter.com/8xx31LEiwA— Lochbridge (@Lochbridge) May 9, 2017