TMCnet News
MicroTRAK, Inc. Acquires RFID Provider Fibergrations LLCDALLAS --(Business Wire)-- May 23, 2006 -- MicroTRAK, Inc. (Pink Sheets: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 acquired all assets of 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 systems which will become the launching platform for MicroTRAK RFID. "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 track a vehicle and its contents in real-time 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. RFID and GPS, the two most powerful tracking technologies available today, gives us a winning combination in the emerging world of real-time visibility." "We are excited about having access to the product engineering staff at MicroTRAK GPS, which is led by former NASA engineers that design and manufacture products to meet current and future market opportunities," said Mike Beedles, president of Fibergrations. "This gives us the ability to supply our customers with revolutionary products that provide solutions to issues that companies have been struggling with for decades. Our experience in RFID has given us a clear understanding of our customers' needs and the relevance that GPS and RFID will play in their future. " 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 that provide the ultimate protection for RFID equipment used in the manufacturing and distribution center environments and patent pending hardware that enhance the readability of RFID tags from greater distances. The formed MicroTRAK RFID division will operate from the Nashville, Tennessee facility and will be under the direction of Mike Beedles, who will assume the role of Executive Vice President of MicroTRAK GPS and General Manager of MicroTRAK RFID. Peter Stamos, will serve as the newly appointed President of MicroTRAK GPS and lead both operations from the Dallas, Texas headquarters. About Fibergrations Fibergrations LLC, is a privately held industry leading supply chain management company specializing in software development, deployment and RFID implementations with integrations in the Food, Manufacturing, Logistics, Retail, Pharmaceutical and Healthcare industries. Fibergrations provides experienced project management for ERP, WMS and SAP solutions. Fibergrations offers system deployments that track inventory, assets and people. For more information, please visit www.fibergrations.com. About MicroTRAK GPS MicroTRAK, Inc., through its wholly owned subsidiary MicroTRAK GPS, 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. 'Safe Harbor' Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although MicroTRAK, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by MicroTRAK, Inc. or any other person that the objective and plans of MicroTRAK, Inc. will be achieved. If you are interested in viewing additional information on MicroTRAK, please visit the website at http://www.microtrakgps.com. |
