AI technology company Cognosos purchases Cox 2M, enhancing AI-driven location intelligence in the automotive industry

In a significant move, technology and software provider Cognosos has announced the acquisition of Cox 2M, the asset tracking division of Cox Communications. This strategic move is expected to revolutionise the logistics, automotive, and manufacturing industries by improving ETA forecasts, monitoring transit conditions, and automating workflows.

Jason DeMola, the new Chief Financial Officer at Cognosos following the acquisition, expressed his excitement about the deal, stating that it reflects a shared vision to transform location intelligence through AI and software. Joe De Pinho, the chief executive officer at Cognosos, echoed this sentiment, emphasising the potential for the combined forces to significantly enhance capabilities such as over-the-road tracking, anti-tamper alerts, and route diversion detection.

The acquisition introduces a new family of LTE and long-range, low-power wireless-compatible sensors. These new sensors are aimed at expanding the capabilities of Cognosos' current offerings, which manage data for approximately one million sensors deployed in the field. Carter Griffith, the chief financial officer at Cognosos, stated that the acquisition allows the company to bring material IoT talent to their R&D team, thereby accelerating the pace of innovation for customers.

The increased investment in R&D, as mentioned by Griffith, will enable Cognosos to deliver new capabilities and grow their product roadmap more quickly. Eric Ma, principal at Riverwood Capital, added that the acquisition brings together an incredibly strong team and reinforces Cognosos' market leadership and their ability to execute.

Jessica Shrum, executive vice president and chief strategy officer at Cox Communications, said that the team built Cox 2M to address the complex needs of commercial clients with custom IoT capabilities. She believes that the acquisition will dramatically increase Cognosos' scalability and reach, thereby expanding their services to a wider clientele.

The acquisition of Cox 2M is expected to increase Cognosos' location tracking and supply chain visibility services for the automotive industry. With this deal, Cognosos gains access to IoT-enabled on-board diagnostics and advanced telemetry software, further enhancing their offerings in the automotive sector.

Eric Ma also stated that the acquisition reinforces Cognosos' belief in their ability to execute as they enter the next chapter with Cox 2M. The technologies are designed to support a range of mobile assets including vehicles, containers, and returnable packaging, positioning Cognosos as a leading player in the IoT and location intelligence market.

AI technology company Cognosos purchases Cox 2M, enhancing AI-driven location intelligence in the automotive industry