Vitec Global Electronics Co., Ltd. (Head office: Shinagawa-ku, Tokyo, "VGEL") a group company of VITEC HOLDINGS CO.,LTD. (Head office: Shinagawa-ku,Tokyo, President: Kunihiro Konno) and Global Mobility Service Inc. (Head office: Minato-ku, Tokyo, President/CEO :Tokushi Nakashima, "GMS") announce that they have entered into a capital and business alliance in order to develop and expand the business centered on IoT *1 · FinTech *2 services provided by GMS.
Background and Overview of capital and business alliance
There are 2 billion people around the world, mainly in emerging countries, who want to purchase a vehicle by utilizing loans but cannot pass the credit screening. It is urgently needed to create opportunities for those people to purchase vehicles. In such an environment, GMS creates the opportunities for those people to purchase and utilize vehicles both inside and outside Japan through its FinTech services that utilize proprietary IoT device "MCCS (Mobility-Cloud Connecting System) *3 and Mobility Service Platform (MSPF) *4.
VGEL partly took a capital participation in GMS's third-party allotment of shares for global business development and acceleration development of IoT device and mobility service platform and concluded a capital and business alliance and we have steadily gained collaboration results. We will further strengthen the development of new markets for GMS services especially in the ASEAN region, the global service provision system of IoT devices, the construction of the logistics infrastructure, and so on.
Please continue looking forward to VGEL and GMS's efforts in the future.
IoT is internet of Things.
A system and society that the Internet is connected to various things other than IT related equipment and mutual control.
FinTech is a word that combines finance and technology.
A variety of innovative moves that link financial services and information technology.
"MCCS" is an abbreviation for Mobility-Cloud Connecting System, which identifies the location information of the vehicle.
It is a system that enables safe automobile engine remote activation control and sensing.
- "MSPF" is an abbreviation for Mobility Service Platform, which includes management, control, data analysis, etc. for mobility