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AZOUR, Israel - BMW Motorrad Brasil and Ituran Location and Control Ltd. (NASDAQ: ITRN), a $720 million market cap company with strong financial health according to InvestingPro analysis, have formed a partnership to provide telematics services to BMW motorcycle customers in Brazil, according to a press release statement issued Thursday.
The collaboration will offer BMW Motorrad riders access to safety and connectivity features powered by Ituran’s technology, including real-time location tracking, virtual geofencing, route history, risk zone heat maps, maintenance alerts, and vehicle recovery services.
New BMW motorcycle purchasers will receive 24 months of free access to the Ituran service, while existing customers will be offered special conditions to access the same features.
"This new partnership with Ituran enables us to jointly develop a fully comprehensive offering that goes beyond traditional tracking," said Matheus Pereira, CEO of BMW Motorrad in Brazil.
Eyal Sheratzky, CEO of Ituran, described the partnership as strategic for the company, noting it "significantly expands our total addressable market, with the addition of this large base of motorcycle customers."
BMW Group sold more than 210,000 motorcycles worldwide in 2024, according to figures provided in the announcement. Ituran currently serves over 2.5 million subscribers across more than 20 countries with its location-based services.
The partnership represents an expansion into the motorcycle segment for Ituran, which has established market positions in Israel and Latin America for its vehicle telematics services. The company has demonstrated strong financial performance, with annual revenue of $337.69 million and an impressive 48.3% gross profit margin.
According to InvestingPro, Ituran maintains a robust financial position with more cash than debt and has consistently paid dividends for 20 consecutive years, currently offering a significant 5.52% dividend yield. For deeper insights into Ituran’s financial health and growth potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
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