Volvo CE broadens services commitment with minority stake in fleet software developer

Volvo CE has taken a 22 percent ownership stake in VizaLogix, a U.S.-based software-as-a-service (SaaS) company specializing in digital, brand-neutral solutions for machine monitoring, servicing and tech support in multiple industries.

The deal supports Sweden-based Volvo CE's strategy to grow services that customers are looking for as digitization and data take on increasing importance among construction and mining fleets and equipment 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,” says 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 best-in-class 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,” says VizaLogix CEO Shawn Bonnington.

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. These 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 exact focus areas.
•  TechnicianNow—Streamlined technician deployment that lets customers request service via a mobile application, eliminating wait times and providing real-time availability of parts and services.
• 3602—24/7 machine health monitoring that integrates multi-brand fleet data into one platform.
• Vantage Point—Stores quarry site productivity and utilization data in one data-agnostic platform, allowing easy access to real-time and historical data.

“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 says. “It’s by combining the right machine with the right services that users get the best solution for their unique needs.”