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INVESTMENTS IN AFFILIATED AND OTHER COMPANY | 12 Months Ended
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Dec. 31, 2015
INVESTMENTS IN AFFILIATED AND OTHER COMPANY [Abstract] |
INVESTMENTS IN AFFILIATED AND OTHER COMPANY | #### NOTE 4 - INVESTMENTS IN AFFILIATED AND OTHER COMPANY A. Investment in affiliated compan ies
|  | US dollars |
|  | December 31, |
(in thousands) |  | 2015 |  |  | 2014 |
Investment in Bringg (see 1 below) |  |  | 3,082 |  |  |  | 1,016 |
IRT (see 2 below) |  |  | 1,662 |  |  |  | - |
Other |  |  | (39 | ) |  |  | - |
|  |  | 4,705 |  |  |  | 1,016 |
1. BRINGG Delivery Technologies Ltd. ("BRINGG") Formerly Overvyoo Ltd In December 2013, the Company invested $1.4 million in Bringg delivery technologies Ltd. (formerly Overvyoo Ltd.), an Israeli start-up company developing solutions for the management of mobile/field workforce. In January and July, 2015 the Company invested additional amounts of $1.1 million and US$ 2 million, respectively. During November 2015, additional investors which are not related to Ituran, invested in Bringg, which reduced the percentage of our Bringg capital we own. Following such investment, the Company now holds 41.18% of Bringg's share capital. Management has determined that the difference between the cost of the investment and the Company's share in the net assets of the investee relates to in process R&D of the investee. 2. TURAN ROAD TRACK MONITORAMENTO De Veiculos Ltda. ("IRT") In February 2015 IRT was established and is held 50% by the company. In September 2015, one of the largest global road vehicles manufacturers signed a four years agreement (which may be extended by the manufacturer for additional two years) with IRT to offer Ituran's services in the Brazilian market (such as vehicle security, personal safety, remote diagnostic, Web and App application and Concierge). The service was launched through a joint venture with Road Track, called IRT (Ituran Road Track). As of December 31, 2015, the Company's investment included long-term loans in the amount of US$ 2.3 million. The loan bears an annual interest of Libor plus 3.5%. The maturity of the loan has not been determined. B. Investment in other compan y Locationet Systems Ltd. (“Locationet”) The Company holds 10.64% of the shares of Locationet. The balance of the Company's investment in Locationet as of December 31, 2015 and 2014 was US$ 78,000 and US$ 79,000 respectively.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=49116238&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=49116238&loc=d3e32787-111569 + Details
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