Ituran
Encyclopedia
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 Tel Aviv Stock Exchange
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 June 2011, the company has 615,000 subscribers. The company is owned by Izzy Sheratzky.
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 Tel Aviv Stock Exchange
, raising the capital required to develop the service overseas in the USA, Brazil
and Argentina
.
In November 1999 Ituran acquired Tadiran Telematics
, which continued to manufacture the vehicle tracking system
s 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.
In 2011, Ituran signed an agreement with Pelephone
which allows Ituran to use Pelephone's network to set up an MVNO (mobile virtual network operator) venture.
, he merged the two teams Hapoel Kiryat Shmona
and Maccabi Kiryat Shmona to form a new team called Ironi Kiryat Shmona. In 2007 the team was promoted for the first time in its history to the top division, the Israeli Premier League. In the same season they also won the Liga Leumit Toto Cup
. The club's first season in the Premier League saw them finish third and qualify for the UEFA Cup.
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
company that provides stolen vehicle recovery and tracking services, and markets GPS wireless communications products. Ituran is traded on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
and the Tel Aviv Stock Exchange
Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange in Tel Aviv is Israel's only stock exchange.The TASE is the only public market for trading securities in Israel. It plays a major role in the Israeli economy....
and is included in the TA-100 Index
TA-100 Index
The TA-100 Index, typically referred to as the Tel Aviv 100, is a stock market index of the 100 most highly capitalised companies listed on the Tel Aviv Stock Exchange . The index began on 1 January 1992 with a base level of 100...
. Ituran has over 1,300 employees worldwide and is a market leader in Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
, Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
and the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. As of June 2011, the company has 615,000 subscribers. The company is owned by Izzy Sheratzky.
Corporate history
Ituran was established in 1994 by the TadiranTadiran
Tadiran refers to a former Israeli conglomerate, which was founded in 1962 by the merger of two companies, Tadir and Ran...
conglomerate to develop and operate a service for locating stolen vehicles using a technology that was originally developed for military use at Tadiran Telematics
Tadiran
Tadiran refers to a former Israeli conglomerate, which was founded in 1962 by the merger of two companies, Tadir and Ran...
, a subsidiary of Tadiran Communications
Tadiran
Tadiran refers to a former Israeli conglomerate, which was founded in 1962 by the merger of two companies, Tadir and Ran...
.
In 1995 Tadiran
Tadiran
Tadiran refers to a former Israeli conglomerate, which was founded in 1962 by the merger of two companies, Tadir and Ran...
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
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
on the Tel Aviv Stock Exchange
Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange in Tel Aviv is Israel's only stock exchange.The TASE is the only public market for trading securities in Israel. It plays a major role in the Israeli economy....
, raising the capital required to develop the service overseas in the USA, Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
and Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
.
In November 1999 Ituran acquired Tadiran Telematics
Tadiran
Tadiran refers to a former Israeli conglomerate, which was founded in 1962 by the merger of two companies, Tadir and Ran...
, which continued to manufacture the vehicle tracking system
Vehicle tracking system
A vehicle tracking system combines the installation of an electronic device in a vehicle, or fleet of vehicles, with purpose-designed computer software at least at one operational base to enable the owner or a third party to track the vehicle's location, collecting data in the process from the...
s 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
Mapa
Mapa , officially called MAP - Mapping and Publishing , is an Israeli cartographic and book publishing company.It was founded in 1985, under the name Sifrei Tel-Aviv and went into the field of cartography in 1994. It eventually moved solely into cartography, becoming the market leader in map...
group for $13 million. The Mapa
Mapa
Mapa , officially called MAP - Mapping and Publishing , is an Israeli cartographic and book publishing company.It was founded in 1985, under the name Sifrei Tel-Aviv and went into the field of cartography in 1994. It eventually moved solely into cartography, becoming the market leader in map...
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
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
based ST Electronics, part of the ST Engineering corporation, for $90 million.
In 2011, Ituran signed an agreement with Pelephone
Pelephone
Pelephone is an Israeli-based telecommunications company, founded in 1986 as a joint venture between Motorola and Tadiran, today owned by Bezeq. It was the first company to offer mobile phone services in Israel. Due to this, the brand-name "Pelephone" became the genericized trademark for mobile...
which allows Ituran to use Pelephone's network to set up an MVNO (mobile virtual network operator) venture.
Football sponsorship
In 2000 Izzy Sheratzky owner of Ituran, decided to support the small local football teams in the Northern Israel city of Kiryat ShmonaKiryat Shmona
Kiryat Shmona is a city located in the North District of Israel on the western slopes of the Hula Valley on the Lebanese border. The city was named for the eight people, including Joseph Trumpeldor, who died in 1920 defending Tel Hai....
, he merged the two teams Hapoel Kiryat Shmona
Hapoel Kiryat Shmona F.C.
Hapoel Kiryat Shmona was an Israeli football club based in Kiryat Shmona. The club played at the Ironi Stadium, and ceased to exist in 2000 when it merged with Maccabi Kiryat Shmona to form Hapoel Ironi Kiryat Shmona.-History:...
and Maccabi Kiryat Shmona to form a new team called Ironi Kiryat Shmona. In 2007 the team was promoted for the first time in its history to the top division, the Israeli Premier League. In the same season they also won the Liga Leumit Toto Cup
Toto Cup
The Toto Cup is an association football tournament that exists separately in the two highest divisions in Israel: the Premier League and Liga Leumit....
. The club's first season in the Premier League saw them finish third and qualify for the UEFA Cup.