Hertz Acquires Remaining Stake in Navigation Solutions
My news for Investors
-Award-winning GPS Technology Will Help Transform Car Rental Experience-
PARK RIDGE, N.J., Jan. 17, 2012 /PRNewswire/ – Hertz Global Holdings, Inc. (NYSE: HTZ) announced today that it has acquired, from Thales Navigation, the remaining 35% stake in Navigation Solutions, the operational arm of Hertz‘s award winning NeverLost customized, in car GPS system. Navigation Solutions will become a wholly-owned subsidiary of The Hertz Corporation.
(Photo: http://photos.prnewswire.com/prnh/20120117/NY37142)
(Logo: http://photos.prnewswire.com/prnh/20110810/NY50373LOGO)
“NeverLost’s GPS-based technology and customized travel content package has been an instrumental element of our strategy to differentiate the car rental experience and it will play a significant, strategic role in the future of car rental as we envision it. Now, coupled with our proprietary Eileo car sharing technology, NeverLost will enable Hertz to transform customer service by creating an unparalleled in-car rental experience,” commented Mark P. Frissora, Hertz Chairman and Chief Executive Officer. “For well over a decade, including 2011, NeverLost revenues have grown solidly and generated strong profit margins. While Navigation Solution revenues are already fully reflected in our consolidated results, the acquisition will be accretive to earnings in 2012.”
Almost 1 million Hertz Gold members include NeverLost as part of their profile preference, meaning they want the GPS navigation system every time they rent a car. Equipped with 3G communication capabilities, NeverLost surpasses other portable navigation and smartphone devices with its ability to deliver customized content; has its own, unique trip planning website, www.neverlost.com; provides concierge services, travel planning assistance and downloadable travel plans; is able to provide customized travel portals for commercial accounts; and has connected services designed specifically for travelers.
Today, with more than 80,000 units in service, NeverLost offers travelers exclusive Explore and Special Events functionality which allow travelers to choose things to do, places to see, and trendy restaurants to enjoy, all specifically chosen and delivered wirelessly to NeverLost in the top 20 urban markets across America. The
Article source: here
Related posts:
- Popular Urban Navigation Site HopStop Expands to 57 Global Markets, Introduces Advanced Search Features and Localized Content Powered by Leading Brands
- KinetX, Inc. Is the Primary Provider of Key Mission Design and Navigation Support for New NASA Asteroid Science Mission: OSIRIS REx
- KinetX, Inc. Provides Key Navigation Support for NASA Mission to Orbit Mercury
- Netsmart Acquires Sequest Technologies, Inc. to Expand Solutions and Presence in Child and Family Services and Substance Use Treatment Communities
- Trimble Acquires Dynamic Survey Solutions to Expand its Seismic Survey Capabilities
