Advantage GPS Acquires Asset Tracking Technology Business
Advantage GPS, a provider of modern data analytics and risk mitigation solutions for vehicle finance professionals, today announced the acquisition of Michigan-based Asset Tracking Technology company.
Asset Tracking Technology is a distributor of GPS tracking devices for finance companies, buy-here pay-here dealerships, fleet tracking and personal tracking devices. The company has been a distributor for Advantage GPS, serving vehicle finance clients throughout the Midwest.
“The acquisition enables us to provide more direct, in-person service and support for Advantage clients in the Midwest,” the company said.
“I’ve known Greg Schultz for decades,” said David M. Meyer, president of Advantage GPS. “He’s been an early-on, invaluable distribution partner for Advantage, prominent industry leader and long-term friend and advisor. Our decision to acquire the business not only enables Advantage to strengthen its operations and presence in the Midwest, but it will also provide more direct, in-person service and support for Advantage clients.”
As part of Advantage’s continuing expansion plan, the new acquisition of Asset Tracking Technology will improve its ability to deliver modern analytics and advanced, risk mitigation technology solutions to more subprime automotive lenders nationwide, today and well into the future, the company said. Asset Tracking Technology is just the first transaction of many to follow as the company plans to accelerate its growth strategy and consolidate the GPS tracking and risk mitigation market.
“Asset Tracking Technology has serviced hundreds of clients over the past two decades,” said Greg Schultz, owner of Asset Tracking Technology. “Our focus has always been on quality products and service. Advantage is a brand that is synonymous with quality and performance and shares a common business culture. That’s why this consolidation makes sense now – I know our clients will be in good hands.”
Advantage’s technology delivers vehicle location and a host of intelligence that monitors and assesses finance risks in real time. The company’s interactive dashboard gives lenders both high-level and vehicle-specific, granular oversight of their automotive finance portfolio. The system is designed to prioritize profit obstacles and proactively notify managers of high-risk situations that further help prevent losses and mitigates their severity if they occur. Advantage’s robust solutions portfolio includes wired and wireless devices, VIN Verify products, custom APIs, Pay-as-You-Go options and features that allow users to manage all their devices regardless of provider.
Over the next several months, Schultz and the Asset Tracking Technology team will stay on to assist the Advantage team in ensuring a seamless transition.