Growing importance of data and digitalization drives Volvo CE acquisition of VizaLogix
Volvo Construction Equipment has taken on a 22 percent ownership stake in VizaLogix, a software-as-a-service (SaaS) company that provides digital, brand-neutral solutions for machine monitoring, servicing, and tech support in multiple industries.
The deal supports a Volvo CE strategy that targets services customers are seeking. Data and digitalization are taking on a growing role for construction and mining equipment owners, as well as dealers.
"This partnership is a great fit because VizaLogix and Volvo CE have a common goal to improve customer experience through increased efficiency, uptime, and productivity," said Scott Young, Head of Region North America, Volvo CE. "VizaLogix provides brand-neutral SaaS solutions that are easy to integrate and use, helping fleets, dealers, and OEMs make smarter decisions."
VizaLogix, based in Connecticut, will continue to operate independently and support multiple brands with their products to provide support for mixed fleet operations.
"As we embark on this exciting new chapter with Volvo, we are thrilled to welcome them as a strategic minority investor in VizaLogix. This partnership marks a significant milestone for us, reaffirming our commitment to pioneering innovative solutions in the construction equipment industry and we are confident that together, we will drive even greater value for our customers and stakeholders," said Shawn Bonnington, CEO, VizaLogix.
VizaLogix offers products that are different from and, in some cases, complementary to, Volvo services. Supporting mixed fleets and mixed data connections uniquely defines the VizaLogix product approach and market differentiation.
Products include TethrITNow, equipment and technician support that includes real-time collaboration over multiple channels, including video calls that allow for augmented reality overlays that let users visually point, highlight, and mark areas of focus. TechnicianNow is streamlined technician deployment that lets customers request service via mobile application, eliminating wait times and providing them with real-time availability of parts and service. 3602 offers 24/7 machine health monitoring that integrates multi-brand fleet data into one platform. VantagePoint stores quarry site productivity and utilization data in one data-agnostic platform, allowing easy access to real-time and historical data.
Volvo CE has been developing its own innovative services to improve customer uptime, productivity, and safety, including ActiveCare Direct telematics, Assist machine control systems, and productivity solutions like Connected Map, Task Manage, and Connected Load Out.
"Volvo CE recognizes that services are growing to be just as important to fleets as their machines, and our investment in VizaLogix extends our commitment," Young said. "It's by combining the right machine with the right services that users get the best solution for their unique needs."
