* Illinois - Last year, Lytx added 102,000 new systems across 365 companies
-- Lytx, the leading maker of cameras for monitoring truck drivers, will be acquired by the Chicago-based private equity firm GTCR for a cash payment of $500 million... As Fortune reported last spring, cameras used to monitor truck drivers are experiencing fast adoption in the trucking industry. Last year, Lytx added 102,000 new systems across 365 companies. That included one of the largest contracts to date in the category, installing cameras in more than 6,000 trucks owned by Swift Transportation. The company provides ongoing services on a subscription basis and says it signed $200 million in new contracts in 2015 – 80 percent more than in 2014... Lytx’s driver cameras are almost certainly a transitional technology as the trucking industry is moving inexorably towards automation and, eventually, self-driving trucks. Lytx has taken some steps that help prepare it for that shift, including an add-on to its camera system that provides drivers with alerts when they stray out of their lane or follow another vehicle too closely. That detection and decision technology could be integrated into more advanced forms of automation or autonomous driving...
(Photo by Joe Raedle — Getty Images: Tractor-trailer rigs are parked at the Petro truck stop May 29, 2000in El Paso, TX) -- Chicago, ILL, USA - Fortune, by David Z. Morris - Feb 19, 2016Labels: monitoring trucks, trucking industry news USA
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