Eberspaecher acquires share of startup PACE Telematics
Automotive supplier Eberspaecher has acquired a share of PACE Telematics GmbH, through which the company aims to expand cloud-based mobility services for its products.
“We are convinced that data-based services form a core element of the mobility of tomorrow and believe strongly in this young company,” explained Managing Partner Heinrich Baumann about the share acquisition. “In addition, the extensive know-how of the start-up in the Internet of Things opens up new possibilities for our products,” added Baumann.
Eberspaecher holds more than a 20% share of the Karlsruhe startup. The three founders of the company will continue their management roles as co-partners.
In the future, PACE cloud-based mobility solutions will enable networking between Eberspaecher products as well as with other functions within the vehicle. Baumann added, “We want to improve the user experience for our customers. They will be effectively air-conditioned and informed and can simply and conveniently control many functions through one app.”
The companies aim to cooperatively develop new products for workshops, fleet managers, and end customers. Dr. Martin Kern, Founder and Managing Director of PACE Telematics, said, “We are very happy to have gained a strong partner in Eberspaecher. We expect many synergies, especially in the area of our B2B business. Our companies are very similar in that we both work as independent, neutral partners to the automobile OEMs and aftermarket industries.”
PACE was founded in 2015 and has over 30 employees. Since summer 2016, the company has offered a cloud-based, certified connected car retrofit solution for motorists. Via the PACE link, an adapter plugged into the ODB-2 interface, the vehicle connects to a smartphone via Bluetooth. The PACE app includes a variety of features such as an electronic logbook, fuel-saving trainer, automatic emergency call, find-my-car function, and error code analysis. In addition to these functions aimed at the end customer, PACE also offers services for B2B customers. With the help of the PACE system, workshops can reportedly improve their customer loyalty through remote diagnostics, and insurance companies can offer innovative telematic tariffs.