Ituran Location and Control's Brazil subsidiary announced Sept. 30 a four-year association with a global automaker to offer telematics services in Brazil through a joint venture called Ituran Road Track (IRT) and is expected to become profitable in 2017.
Ituran offers location-based services, most of them to recover stolen vehicle and tracking services. Another company's highlight is the wireless communications products used in connection with its location-based services and various other applications.
"Reaching this agreement with a global automaker was a long process taking a number of years," Ituran Brazil and IRT CEO Yaron Littan said. " We are very pleased with the final result which will be a win-win for all parties involved, especially Brazilian customers. The services have been tropicalized to attend the Brazilian market and client's customers and will position it as a telematics market leader in South America."
Ituran's services includes vehicle security, personal safety, remote diagnostic, Web and app application and concierge. The service will be launched through a joint venture which is 50 percent owned by Ituran.