Ituran
| Public (NASDAQ: ITRN),(: ITRN) | |
| Industry | Vehicle Tracking |
| Founded | 1994 |
| Founder | Izzy Sheratzky, Yehuda Kahane |
| Headquarters | Tel Aviv, Israel |
|
Area served
|
United States, Brazil, Argentina, Israel |
| Products |
Fleet Management Systems Real-time locating systems Telematics systems |
| Services |
Stolen vehicle recovery Vehicle tracking services Location-based services |
| Revenue |
 US$ 182 million (2014) |
|
US$ 47.87 million (2014) |
|
|
US$ 30.42 million (2014) |
|
|
Number of employees
|
1,315 |
| Subsidiaries |
Mapa Ltd. Ituran de Argentina S.A. Ituran Sistemas de Monitoramento Ltda. Ituran USA Holdings Inc. Cellutrak Canada Inc. |
| Website | www.ituran.com/en/ |
Ituran Location and Control Ltd. is an Israeli company that provides stolen vehicle recovery and tracking services, and markets GPS wireless communications products. Ituran is traded on NASDAQ and the and is included in the TA-100 Index. Ituran has over 1,300 employees worldwide and is a market leader in Brazil, Argentina, Israel and the United States. As of February 2015, the company has 817,000 subscribers.
Ituran was established in 1994 by the Tadiran conglomerate to develop and operate a service for locating stolen vehicles using a technology that was originally developed for military use at Tadiran Telematics, a subsidiary of Tadiran Communications.
In 1995 Tadiran decided to sell the Ituran concept to a group of investors headed by Izzy Sheratzky for $250,000 USD.
In 1998 the company had an initial public offering on the , raising the capital required to develop the service overseas in the United States, Brazil and Argentina.
In November 1999 Ituran acquired Tadiran Telematics, which continued to manufacture the vehicle tracking systems Ituran was using for its services, for $10 million. The acquisition enabled Ituran to reduce the cost of the systems it sold. Ituran changed the company's name to Telematics Wireless.
In 2005 Ituran raised approximately $50 million in an initial public offering on Nasdaq, which gave the company a value of $294 million.
In April 2007 Ituran acquired the Mapa group for $13 million. The Mapa Group consists of three divisions: geographical databases, map publishing in print and online, satellite navigation and location-based services.
In November 2007 Ituran sold Telematics Wireless to Singapore based ST Electronics, part of the ST Engineering corporation, for $90 million.
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