Friday, June 3, 2016

Spireon Reaches Three Million Subscribers, Sets New CEO

Irvine-based vehicle telematics provider Spireon reported Thursday afternoon that it has reached three million subscribers to its platform, and has named a new CEO. The company said it has named Kevin Weiss to the CEO position. Weiss was previously CEO of Unitrends, and also had served at McAfee, IBM, and other companies. Weiss replaces Marc Brungger, who now apparently is running his own investment and consulting firm. No details on the reason for the CEO swap were given by the company. In addition to the CEO news, Spireon said it saw "record breaking" sales in the first quarter of 2016. The company did not provide any financial details on those sales, only saying it had double digit growth in revenues and units compared with Q1 of last year. Spireon develops vehicle tracking systems, which are used in the sub-prime "buy here pay here" car lending market, in order to make it easier to track and reposess cars.

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