Connexion Telematics (ASX:CXZ) launches new software platform

• Connexion Telematics (CXZ) has commercially launched its CXZTRAC original-equipment-manufacturer-agnostic (OEM-agnostic) software platform
• Following the commercial success of its flagship OnTRAC software platform, the company recently invested in making its OEM-agnostic equivalent
• Connexion says CXZTRAC is a highly scalable platform capable of supporting any branded vehicle for both courtesy transportation program- (CTP) and non-CTP-use by dealers and OEMs
• The new platform is now live in the U.S. with more than 180 OnTRAC-using dealers opting in as commercial users of CXZTRAC
• The platform will enable dealers to supplement their lower-than-usual CTP fleet volumes with additional, qualifying, used vehicles
• Connexion Telematics shares are up 3.1 per cent, trading at 1.7 cents each

Connexion Telematics (CXZ) has commercially launched its CXZTRAC original-equipment-manufacturer-agnostic (OEM-agnostic) software platform.

Connexion develops and owns software-as-a-service (SaaS) solutions for the global automotive industry.

Following the commercial success of its flagship OnTRAC software platform, the company recently invested in the design, build, delivery and operation of its OEM-agnostic equivalent.

According to Connexion, CXZTRAC is a highly scalable platform capable of supporting any branded vehicle for both courtesy transportation program- (CTP) and non-CTP-use by dealers and OEMs.

Thanks to the launch, the latest platform is now live in the U.S. with more than 180 OnTRAC-using dealers opting in as commercial users of CXZTRAC.

Connexion notes the initial commercial activity has been largely fuelled by dealers’ response to widely reported global vehicle supply constraints impacting their operations.

Further, and as a result the company’s collaboration with a cornerstone OEM client, CXZTRAC will also enable dealers to supplement their lower-than-usual CTP fleet volumes with additional, qualifying, used vehicles.

Due to these lower volumes affecting OnTRAC revenue, offset by the early launch and commercial adoption of CXZTRAC, the company does not expect any material change to its earnings.

The launch aside, it’s been a busy month for CXZ, with the company renewing its contract with vehicle manufacturer General Motors for an additional five-year term earlier in May.

On the market this morning, Connexion Telematics shares are up 3.1 per cent, trading at 1.7 cents at 10:33 am AEST.