Mar 5th 2014--Taiwan leading POS system company Flytech Technology (6206 TW)today announced to acquire NeoVideo company 60% shares with investment NT$60M, entering into Automotive Telematics industry. According to IHS report, worldwide automotive OEM embedded telematics total addressable market (TAM) was 13,134K in 2013, will grow to 18,974K in 2014 with 44% YOY. Flytech will leverage our production and management capability, together with NeoVideo’s wireless technology and sounded customer relationship, to be one of important members in automotive telematics industry.
About NeoVideo: Founded in 2005, members have more than 10-years experience in automotive electronics related products and focus on embedded before market business. Its major products include wireless module, e-call telemetics box etc, and core technology CAN bus/connected car via wireless(WIFI/3G/B.T) has approved by Europe/China /Taiwan automotive customers, is one of few teams in Taiwan can recognized by Europe customers.