Well, it seems that the old adage is true: time really does fly when you’re having fun. July 21, 2021 marks the 40th anniversary of CalAmp’s founding. At its core, CalAmp has been dedicated to helping businesses in transportation and logistics, government, industrial equipment and automotive marketplaces grow and improve lives around the globe through our software applications, scalable cloud services and intelligent devices.
Over the past four decades, from our humble beginnings in 1981 to today as a global telematics solutions innovator, we have embraced critical opportunities while conquering challenges. If not for the hard work of each member of the CalAmp team as well as the ongoing support of our customers, stakeholders and friends, our exponential growth and ongoing transformational journey would not have been possible.
Strategic Evolution Into Connected Intelligence
CalAmp was founded in 1981 under the name, California Amplifier Inc., to focus on developing broadband communications devices. In 1983, we went public and began trading on Nasdaq. In the years that followed, CalAmp began designing and engineering IoT hardware to establish our foothold as a telematics leader. We also moved our headquarters to Irvine, California. In 2003, we started offering our first telematics software solution and in August 2004 officially became CalAmp Corp.
To maintain our place at the forefront of IoT innovation, we’ve continued to make software and platform enhancements to our systems solutions over the last ten years to give vital assets a voice and intelligence in order to help fleet managers get the insights and visibility they need to improve their business operations. With the acquisition of Wireless Matrix in 2012, CalAmp shifted its focus to software and subscription services as an essential business operation to deliver more actionable and analytical data insights for fleet and asset management.
During the same decade, we developed the CalAmp Telematics Cloud (CTC), which laid the foundation for our telematics service enablement platform that enhances data from our edge computing devices to end-user applications. CTC is set for another evolutionary change in connected platform intelligence with new robust device management capabilities, enriched data insights and a diverse marketplace of value-added services (Note: stay tuned for more platform innovation announcements!).
Beginning in 2016, connected car services were added including stolen vehicle recovery (SVR), vehicle risk management, real-time crash response and accident reconstruction to help the automotive, insurance and rental fleet marketplace provide safety and security to drivers while mitigating risk to their businesses. In 2017, we added SC iOn™ Supply Chain Visibility services to our robust list of telematics innovations providing pharmaceutical, electronics, and other consumer goods providers with granular visibility into their shipments from manufacturing, across multiple modes of transportation to the final distribution point.
To broaden our international reach, in 2019 we acquired Tracker in the U.K. and LoJack Mexico, leading to further pan-European and Latin American market growth. Later that year, we continued the expansion in the domestic US by building on our government and municipalities business with new K-12 school district customers from the acquisition of Synovia Solutions, which also included the wildly successful Here Comes The Bus® school bus tracking application. We then innovated again by introducing a new award-winning offering in 2020 called, Bus Guardian™. CalAmp’s desire to help school districts across the country keep students and drivers safe amid the COVID-19 pandemic led to the expedited development of this ground-breaking contact tracing and hygiene verification technology solution that safely ushered children back into the classroom.
Earlier this year, we rolled out major new enhancements and a new user interface for CalAmp iOn bringing the most critical fleet and asset insights to the forefront to help fleet operators make the right decisions in real time. Our international expansion also continued with the launch of LoJack España, which opens up more opportunities to extend the market reach of our CalAmp iOn and other connected intelligence solutions in EMEA and Latin America. And now our SC iOn Supply Chain Visibility service and environmental smart sensors are also playing a critical role in enabling the safe and efficient transport of COVID-19 vaccines, pharmaceuticals and valuable assets worldwide.
Decades of Dramatic Growth
Today, there are over 22 million CalAmp devices monitoring mobile assets in 30 countries around the world, including 1.3 million active software and service subscribers. Since CalAmp’s inception, our SVR and connected car services have recovered over $3.3 billion worth of vehicles worldwide including $1.9 billion in the United States, £559 million by Tracker in the United Kingdom, €266 million by LoJack Italia, and over $8 billion (MXN) by LoJack Mexico.
Over the decades since our founding, customers have leveraged our telematics devices and software innovations to gain valuable insights for smarter decisions leading to greater corporate growth. As a result, over the past three years CalAmp has also grown stronger in our four core businesses by achieving a 46% revenue CAGR in our Global Subscriber Base and a 52% CAGR in our Software and Subscription Services (S&SS). Today, the new CalAmp is more diversified and stronger than ever with 36% of our consolidated revenue coming from international customers and 44% from our S&SS operations in the first quarter of fiscal year 2022.
Backed by 40 years of innovation, the future of CalAmp is one of evolution and transformation while remaining at the edge of technological advancement. From our humble beginnings, we have built a strong foundation upon which our expertise in edge computing, cloud technology, artificial intelligence and machine learning will deliver more connected intelligence to customers who need it more than ever to stay competitive and informed about their about vehicles, vital assets, drivers and valuable cargo.
While the technologies have changed, our mission to improve lives around the world remains the same. We will continue to adapt, innovate and work together with our partners to evolve and enable a technological ecosystem that leverages our newest technologies to bring about a world that works smarter and solves complex business challenges so people and companies everywhere can thrive.
In the days ahead, watch our news, thought leadership and accolades for examples of how The Best of CalAmp is Yet to Come!