Plextek’s $50m windfall for stolen vehicle tracker
Plextek near Cambridge has won a £26.4 million order from quoted US company LoJack Corporation for technology that is helping to stop vehicle thieves in their tyre tracks.
It is Plextek’s largest contract to date and represents a watershed for the Great Chesterford technology consultancy.
The deal, covering two years, is for production of the next generation LoJack stolen vehicle recovery unit that allows police to track directly. The first part of the order has already been shipped.
The LoJack contract represents the extension of Plextek’s activities from pure design house to niche contract manufacturer of volume communications products.
Plextek’s manufacturing partner is Clarion (Malaysia), part of the Clarion automotive electronics group. Other supply relationships are expected to follow.
Colin Smithers, Plextek’s managing director, said: "This contract is a landmark win for us. Not only is it a significant boost for the company to be selected for this sizeable contract, it’s also a great example of our ability to provide a complete design through to manufacture service.
“It highlights how we’ve adapted to meet the changing demands on the design services industry.”
Plextek was established in 1989 and has grown to be one of the largest independent electronics and communications design facilities in Europe. It provides innovative design of complex communication systems and devices for a wide range of companies including technology start-ups, government bodies and engineering conglomerates, and also undertakes supply of the finished products.
It operates across the telecoms, automotive, medical and defence sectors. In addition to supplying a range of its own products for the security market (the Blighter Radar), the company prides itself in providing an outsourced resource of highly experienced, multidisciplinary engineering skills to organisations that require challenging electronics design projects to be delivered within competitive time and cost constraints.
Its 300 clients encompass a range of global organisations, from BAE, the UK MoD, QinetiQ and Raytheon to TDK and Sony.
The consultancy’s automotive security products are supplied to both LoJack and TRACKER Network.
NASDAQ-quoted LoJack Corporation has pioneered the hi-tech battle against road rustlers.
Its stolen vehicle recovery system delivers a better than 90 per cent success rate in tracking and recovering stolen cars and trucks and has helped recover more than $3 billion in global assets.
The system is uniquely integrated into law enforcement agencies in the US that use LoJack's in-vehicle tracking equipment to recover stolen assets, including cars, trucks, commercial vehicles, construction equipment and motorcycles.