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05.07.2018

Eberspaecher acquires share of start-up PACE Telematics

– Entry into cloud-based mobility services

– Share of over 20 percent through capital investment

– Potential to expand current product portfolio

Esslingen / Karlsruhe, 5 July 2018 – Eberspaecher is expanding its competence in connectivity solutions. The Esslingen-based automotive supplier has acquired a share of PACE Telematics GmbH through which the company aims to expand cloud-based mobility services for their products.

„We are convinced that data-based services form a core element of the mobility of tomorrow and believe strongly in this young company,” explains Managing Partner Heinrich Baumann 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,” adds Baumann. The Esslingen-based automotive supplier Eberspaecher holds more than a 20 percent share of the Karlsruhe start-up. The three founders of the company will continue their management roles as co-partners.

Cloud-based mobility for Eberspaecher components
In future, PACE cloud-based mobility solutions will enable networking between Eberspaecher products themselves as well as with other functions within the vehicle. Baumann continues: „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.” Both companies are convinced that the acquisition forms an excellent basis on which to offer even more comfort on the move and therefore win new customers and enter new markets. They aim to cooperatively develop new products for workshops, fleet managers and end customers. Dr Martin Kern, Founder and Managing Director of PACE Telematics, adds: „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.”


Background:
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 OBD-2 interface, the vehicle connects to a smartphone via Bluetooth. The PACE app includes a variety of innovative 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 improve their customer loyalty through remote diagnostics and insurance companies can offer innovative telematic tariffs. More information can be found at www.pace.car and business.pace.car.



Media Contact:

Anja Kaufer
Head of Public Relations
Eberspächer Group
Telephone: +49 711 939-0250
press[at]eberspaecher.com


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About Eberspaecher:
With approximately 10,000 employees at 80 locations worldwide, the Eberspaecher Group is one of the automotive industry’s leading system developers and suppliers. The family business, headquartered in Esslingen am Neckar, stands for innovative solutions in exhaust technology, automotive electronics and thermal management for a broad range of vehicle types. Eberspaecher components and systems provide more comfort, greater safety and a cleaner environment on or off the road. In 2017, the Group generated revenue of around 4.5 billion euros.

Image press release

Eberspaecher acquires share of start-up PACE Telematics
Management Heinrich Baumann, (Eberspaecher, ri) Dr Martin Kern, Robin Schönbeck, Philip Blatter (PACE fltr)
Eberspaecher acquires share of start-up PACE Telematics
Eberspaecher Esslingen Research and Development Center
Eberspaecher acquires share of start-up PACE Telematics
Eberspaecher plant exterior view