MicroTRAK GPS, a provider of Global Positioning Systems (GPS) wireless location services will acquire Fibergrations LLC, a privately held Nashville, Tennessee, company that provides end-to-end Radio Frequency Identification (RFID) integration solutions and hardware, RFID Reader Portals and warehouse management consultants.
The acquisition “creates a collaborative platform to develop the first world-class, end-to-end solutions combining RFID and GPS technologies to provide unmatched tracking capabilities for future supply chain applications,” according to a press release.
We can only imagine the possibilities with this new super-tracking combination of tech parts. Read more:
MicroTRAK GPS Signs Agreement To Acquire Fibergrations LLC
MicroTRAK GPS (OTC: MIOK), a provider of Global Positioning Systems (GPS) wireless location services and products that track and recover valuable mobile assets, today announced that it has signed a definitive agreement to acquire Fibergrations LLC, a privately held corporation based in Nashville, Tennessee. Fibergrations is a leading global provider of end-to-end Radio Frequency Identification (RFID) integration solutions and hardware, RFID Reader Portals and warehouse management consultants.
This acquisition creates a collaborative platform to develop the first world-class, end-to-end solutions combining RFID and GPS technologies to provide unmatched tracking capabilities for future supply chain applications. Fibergrations will merge its software and hardware applications with MicroTRAK GPS to support the joint development of new products that can impact multiple industries. In addition, Fibergrations brings new opportunities with leading Fortune 500 customers that will become part of MicroTRAK GPS’ Advanced Technology portfolio. The acquisition is expected to close in the second quarter of MicroTRAK GPS’ 2006 fiscal year. Terms of the agreement were not disclosed.
“The merging of Fibergrations and MicroTRAK GPS results in unmatched experience and innovation as we look forward to pioneering this new market,” said Mike Beedles, president of Fibergrations.
MicroTRAK’s President, Jerry Grisafi, says, “RFID enhances our GPS offerings and provides a complete end-to-end solution for tracking capabilities. “With the purchase of Fibergrations it gives us a platform in which to launch our new division, MicroTRAK RFID into a marketplace that has been waiting for a complete technology package that tracks, locates and reports critical assets and product information.
“With our combined resources and strengths, we are well positioned for continued innovation and growth in an entirely new market. We believe the powerful combination of these two companies will benefit our shareholders, our customers and our employees,” said Jerry Grisaffi, MicroTRAK GPS founder and chief executive officer. “The ability to ‘Real Time’ track a vehicle and its contents from pick up to delivery is a valuable business tool. Having access to the exact location of an entire shipment can provide better planning, adherence to standards and timely relocation of misplaced or missing shipments. By combining RFID and GPS, the two most powerful tracking technologies available today, it gives us a winning combination in the emerging world of real-time visibility.”
About Fibergrations LLC
Founded in 2004, Fibergrations provides supply chain management expertise in software development, deployment and integrated RFID implementations in the Food, Manufacturing, Logistics, Retail, Pharmaceutical and Healthcare industries. The company is also a leader in Portal Product Development, with patent pending RFID Reader Portals which provide the ultimate protection for RFID equipment used in the manufacturing and distribution center environments and patent pending hardware that enhances the readability of RFID tags from greater distances.
About MicroTRAK GPS
MicroTRAK GPS, an operating subsidiary of MicroTRAK, Inc. is a leading provider of Global Positioning Systems (GPS) technology and products that utilize in-vehicle hardware and wireless location services. Based in Dallas, Texas, MicroTRAK GPS has combined the ubiquitous coverage of GPS with the nationwide cellular network and 24/7 automated web and telephone accessibility to provide real-time wireless location and tracking, emergency assistance, stolen vehicle recovery and many other personal and fleet management purposes.