Omnitracs

Two agencies cut Omnitracs’ debt rating after SmartDrive purchase

Telematics and ELD provider Omnitracs has had its debt rating downgraded by both S&P Global Ratings and Moody’s because of its acquisition of SmartDrive.

But the news wasn’t all negative. The downgrade essentially comes down to math, with new debt taken on by Omnitracs pushing its debt metrics to a level that essentially required a downgrade. But both S&P Ratings and Moody’s were mostly positive in discussing the long-term impact of the Omnitracs purchase. 

The reports on the downgrade also...

https://s29755.pcdn.co/news/two-agencies-cut-omnitracs-debt-rating-after-smartdrive-purchase

‘Convergence’ key to Omnitracs’ acquisition of SmartDrive

Omnitracs’ purchase of SmartDrive, announced early Wednesday, is going to create a “new, converged category” by putting together the video services of SmartDrive with Omnitracs’ current telematics capabilities.

That was the description of the value of putting the two companies together in a deal whose price tag is unknown. 

Talking about convergence is nothing new at SmartDrive. In a video interview last year, SmartDrive CEO Steve Mitgang used that term to discuss his company’s strategy.

Responding...

https://www.freightwaves.com/news/convergence-key-to-omnitracs-acquisition-of-smartdrive

Breaking News: Omnitracs acquiring SmartDrive

Fleet technology provider Omnitracs is acquiring SmartDrive, a company known primarily for video technology in trucks but that has attempted to push into other telematics-based applications in recent years. 

The price of the purchase was not disclosed.

“SmartDrive’s proven video-based safety program integrated with Omnitracs’ best-in-class driver workflow and complemented by the companies’ unmatched years of collective transportation intelligence present an opportunity to streamline and enhance...

https://s29755.pcdn.co/news/breaking-news-omnitracs-acquiring-smartdrive

Omnitracs, Trimble integrating systems

Omnitracs and Trimble, two companies that compete in the electronic logging device (ELD) market, have agreed to integrate their respective transportation platforms.

Under the recently announced agreement between the two companies, all of the offerings of Omnitracs One and Trimble TMW.Suite will be available on both systems. 

In a joint email written in response to several questions submitted by FreightWaves, Mick Milnarck, the VP of product for Omnitracs, and Brad Young, director of alliances at...

https://www.freightwaves.com/news/omnitracs-trimble-integrating-systems

ELD risk gets new scrutiny after FBI warnings

A warning last week from federal law enforcement on the cybersecurity risks associated with electronic logging devices (ELDs) has raised awareness in the trucking industry on the potential costs of getting hacked.

The Federal Bureau of Investigation (FBI) would not comment on whether the notice it sent to private companies involved in the trucking industry was based on recent ELD cyber threat activity. “There are no current ELD hacks that we are aware of,” Sharon Reynolds, Chief Information...

https://www.freightwaves.com/news/eld-risk-gets-new-scrutiny-after-fbi-warnings

Reports: FBI warns trucking of potential ELD hackers

The Federal Bureau of Investigation (FBI) has issued an advisory on cyber risks associated electronic logging devices (ELDs) after determining the devices “did little or nothing” to ensure against data breaches, according to media reports.

The advisory – a copy of which has been circulated among various media – follows best-practices advice from private industry warning on the potential security vulnerability of ELDs and other technology that has the potential to cause severe financial damage to...

https://s29755.pcdn.co/news/reports-fbi-warns-trucking-of-potential-eld-hackers

The Daily Dash: More states consider electric-truck mandates; stay safe and ignore HOS; why electric?

Freightliner eCascadia

The Daily Dash is a quick look at what is happening today in the freight ecosystem. In this edition, California is mandating electric-truck sales, and some other states may follow suit. Plus, drivers facing life-or-death situations shouldn’t worry about hours-of-service violations and why are investors so interested in electric-truck makers? 

As California goes, so goes the nation

When California announced the world’s first electric-truck sales mandate, it garnered headlines and its fair share of...

https://s29755.pcdn.co/news/the-daily-dash-more-states-consider-electric-truck-mandates-stay-safe-and-ignore-hos-why-electric

Regulators give relief to Werner during ELD transition

Federal regulators are helping Werner Enterprises (NASDAQ: WERN) transition from Omnitracs to Platform Science electronic logging devices (ELDs) by temporarily exempting the carrier from certain data requirements as it makes the switch.

The exemption, issued by the Federal Motor Carrier Safety Administration (FMCSA) on July 6, acknowledges “incompatibility issues” between Omnitracs and Platform Science, and will therefore allow the company to leave blank five required data fields in the...

https://s29755.pcdn.co/news/regulators-give-relief-to-werner-during-eld-transition

Omnitracs under review: Weaker debt position, but tech investments roll on

Omnitracs, the manufacturer of electronic logging devices (ELDs) and other telematics systems, got a mixed financial review from S&P Global Ratings in an infrequent look at a few of the company’s financials.

Omnitracs is privately held, with Vista Equity Partners as its majority owner. Vista had been reported last year to be looking to sell Omnitracs but no movement has been reported. 

In its action, S&P Global Ratings affirmed the company’s “B” rating on its corporate debt. However, it lowered...

https://s29755.pcdn.co/news/omnitracs-under-review-weaker-debt-position-but-tech-investments-roll-on

Tech battle: Omnitracs claims Platform Science infringed on its technology patents

Omnitracs sues Platform Science

Omnitracs has filed a lawsuit against Platform Science in the Southern District of California, alleging that Platform Science has infringed upon its technology patents.

In the suit, Omnitracs LLC et al v. Platform Science Inc., Omnitracs alleges that Platform Science has violated seven Omnitracs patents. Omnitracs is seeking a jury trial. The suit was filed on Tuesday.

Omnitracs, the dominant onboard platform for the for-hire trucking space, has been fighting a number of new startups in recent...

https://www.freightwaves.com/news/tech-battle-omnitracs-claims-platform-science-infringed-on-its-technology-patents

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