Scottsdale, Ariz.-based Alanco Technologies Inc. announced that its StarTrak Systems subsidiary has entered the market for wireless tracking and monitoring services to the construction equipment industry through the acquisition of the assets of MicroLogic Inc., Lowell, Mass.
Founded more than 25 years ago, MicroLogic is most notable for its technical development of the LoJack Stolen Vehicle Recovery System and the engineering of the LifeLine Personal Emergency Response System. More recently, MicroLogic began offering wireless solutions to address a number of operational and asset management challenges in the construction industry, entering into the emerging market for wireless tracking and monitoring of construction equipment assets, such as towable generators, excavators, and cranes.
"The MicroLogic acquisition presented a unique opportunity to greatly expand StarTrak's long-term market potential for a nominal all-stock investment,” said Robert Kauffman, Alanco chairman and CEO. “The transaction is expected to be immediately cash positive based on existing MicroLogic annual service revenues of about $400,000. The MicroLogic business is highly complementary to StarTrak's refrigeration transport monitoring technology and operations, and will be integrated within the existing organization with the addition of only MicroLogic's present sales manager and a systems engineer. Current MicroLogic data services will be moved to StarTrak's lower cost, more robust network, which should improve service reliability and overall performance. We are confident that StarTrak can significantly improve upon the current MicroLogic product offering, and greatly accelerate penetration of this early stage market opportunity."
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