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Verizon buys Telogis in connected vehicle market push

(Note/disclaimer: We are owned by Verizon, by way of AOL. This gives us no inside track whatsoever when it comes to news.) With a lot of tech companies and automakers staking their claims in the connected car space, now there are signs that others are looking to move in, too. Today, telecoms giant Verizon announced that it is acquiring Telogis, a California-based company that develops cloud-based solutions for mobile workforces, and specifically telematics, compliance and navigation software used by Ford, Volvo, GM and other car companies, as well as Apple and AT&T. Financial terms of the deal have not been disclosed, although we'll try to find out. Considering that Verizon in 2015 reported full-year revenues of $131.6 billion, the price would have to be very high to be considered "material" and may not be made public for some time, if ever. Telogis in its time as a startup raised a substantial amount of money, just over $126 million in all, including $93 million in 2013, supposedly ahead of an IPO, all from Kleiner Perkins Caufield & Byers. Back in 2013 when KPCB made its investment (which was the first from a VC firm in the company), Telogis told TechCrunch it was profitable and forecasting revenues of $100 million annually for the year. It's not clear what size those revenues are now, but if it was on the same growth trajectory as before the funding, sales would be around $150 million annually, with profitability, at the moment. Other investors include some very notable strategics: the investment arm of General Motors, and Fontinalis Partners, which also invests in Lyft and was co-founded by Bill Ford, the executive chairman of the Ford Motor Company. Before the acquisition, Verizon actually had a business in fleet management and telematics; in fact, the two companies competed against each other for business from the trucking and other industries. Verizon Telematics, as the business is called, is active in 40 countries. But in a way, Verizon buying Telogis is a sign that the latter may have proved to be the more superior, and the one with the key customer deals.

Car Stories: Owning the SHO station wagon that could've been

A little over a year ago, I bought what could be the most interesting car I will ever own. It was a 1987 Mercury Sable LS station wagon. Don't worry – there's much more to this story. I've always had a soft spot for wagons, and I still remember just how revolutionary the Ford Taurus and Mercury Sable were back in the mid-1980s. As a teenager, I fell especially hard for the 220-horsepower 1989 Ford Taurus SHO – so much so that I'd go on to own a dozen over the next 20 years. And like many other quirky enthusiasts, I always wondered what a SHO station wagon would be like. That changed last year when I bought the aforementioned Sable LS wagon, festooned with the high-revving DOHC 3.0-liter V6 engine and five-speed manual transmission from a 1989 Taurus SHO. In addition, the wagon had SHO front seats, a SHO center console, and the 140-mph instrument cluster with mileage that matched the engine. When I bought it, that number was just under 60,000 – barely broken in for the overachieving Yamaha-sourced mill. The engine and transmission weren't the only upgrades. It wore dual-piston PBR brakes with the choice Eibach/Tokico suspension combo in front. The rear featured SHO disc brakes with MOOG cargo coils and Tokico shocks, resulting in a wagon that handled ridiculously well while still retaining a decent level of comfort and five-door functionality. I could attack the local switchbacks while rowing gears to a 7,000-rpm soundtrack just as easily as loading up on lumber at the hardware store. Over time I added a front tower brace to stiffen things a bit as well as a bigger, 73-mm mass airflow sensor for better breathing, and I sourced some inexpensive 2004 Taurus 16-inch five-spoke wheels, refinished in gunmetal to match the two-tone white/gunmetal finish on the car. That, along with some minor paint and body work, had me winning trophies at every car show in town. And yet, what I loved most about the car wasn't its looks or performance, but rather its history. And here's where things also get a little philosophical, because I absolutely, positively love old used cars. Don't get me wrong – new cars are great. Designers can sculpt a timeless automotive shape, and engineers can construct systems and subsystems to create an exquisite chassis with superb handling and plenty of horsepower. But it's the age and mileage that turn machines into something more than the sum of their parts.

Former Ford CEO Mulally won't run for president

Alan Mulally will not be following his successful term as president and CEO of Ford Motor Company with a run at an even bigger presidency. Rumors that the 68-year-old former Boeing exec would make a run at the White House sprouted after his apparent dodging of a reporter's questions about a potential candidacy during a forum in Indianapolis.
"I really think it's important that we all pull together. We really need to pull together around a compelling vision for our country and a comprehensive strategy to do it and work together. We really need to do it," Mulally said at the conference, according to The Detroit News.
He's since clarified by saying, "[I'm] honored at the suggestion, but that is not a role I am considering."