DMI has acquired Detroit-based Lochbridge, bringing in new capabilities in internet of things solutions for the automotive, health care, financial services and manufacturing sectors.
DMI said Lochbridge’s experience—which includes solutions that enabled its clients to bring in more than $1.5 billion in new annual revenues—made it an attractive target for an increasingly connected world. Lochbridge is a critical acquisition for DMI, strengthening its ability to help clients across industries rethink how they use mobility and digital solutions to better serve their end customers, according to the announcement.
“Organizations across industries are actively seeking new ways to engage their customers wherever, whenever and however they want and to monetize those interactions,” DMI Founder and CEO Jay Sunny Bajaj said. “DMI’s acquisition of Lochbridge is a natural extension of our mission to help our customers win in a connected world. With our depth in mobility, commerce, analytics and modernizing platforms for the connected world, we are well positioned to be the partner of choice for our customers on this journey.”
Lochbridge was a pioneer in developing and deploying connected car solutions, and grew quickly within the automotive and manufacturing space before branching out into the financial services, public sector and health care industries, according to the announcement.
Combining Lochbridge’s focus on digital innovation and connected engineering with DMI’s mobile enterprise experience made the acquisition an attractive opportunity, according to Romil Bahl, Lochbridge president and CEO.
“Through connectivity, extraction and analytics, we create a ‘sixth sense’ into businesses and products,” Bahl said. “This excites customers with new connected experiences and delivers new sources of revenue and cost savings. What excites me is that DMI and Lochbridge together represent the world’s only mobility + IoT + digital services company, underpinned by best-in-class analytics.”