Weil Guides SoftBank In $500M Driving Safety Biz Investment
Law360 (December 19, 2018, 4:22 PM EST) -- The SoftBank Vision Fund, working with Weil Gotshal & Manges LLP, announced on Wednesday an agreement to inject $500 million into Cambridge Mobile Telematics, which developed the DriveWell platform that tracks and improves driver safety and is used by insurers, fleets and wireless carriers, among other entities.
The capital infusion will be used by CMT to help market and sell its DriveWell platform, according to a statement. It will also be used to help CMT bolster its abilities as they relate to things like automated crash and claims management and video analytics. DriveWell provides insights on driver behavior and related vehicle...
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