Ottawa-based Weather Telematics acquired in $2.5M deal

Bad weather
(Stock image, for illustrative purposes only)

An Ottawa company that’s using artificial intelligence to help autonomous vehicles predict and adapt to weather conditions has been acquired by a Toronto-based strategic investor focused on innovative technologies.

Weather Telematics, founded in Ottawa in 2010, provides real-time road conditions for connected and autonomous vehicles. It’s marketed as valuable service for companies with fleets of vehicles, with the company dubbing its road hazard alert technology as “weather as a service.”

“With the power of AI-based technologies, we can convert extremely complex datasets into useful actionable intelligence,” said Weather Telematics CEO Robert Moran in a statement.

The firm announced last week that it will be acquired by Internet of Things Inc. in a deal worth $2.53 million, comprised of cash and shares in IoT. The Toronto-based company is a strategic investor and operator of companies developing solutions using AI, blockchain, and other emerging technologies – yes, including firms specializing in the Internet of Things.

In a release, IoT’s executives trumpeted Weather Telematics’ tech as critical to the development of autonomous vehicles, and highlighted future customer targets such as insurance companies, ridesharing firms and automakers themselves.

“Weather Telematics is at the forefront of AI-based and machine learning technologies for predictive road and weather analysis feeding into the growing autonomous vehicle sector,” said IoT CEO Michael Frank.