Offer Completes DataLogic’s AVL Solution Through BounceGPS
DataLogic International, Inc., a provider of consulting services and communication solutions including GPS-based mobile asset tracking, secured mobile communications and VoIP, today announced the acquisition of the assets of CBSi Holdings, Inc., an Arizona-based, privately held provider of complete vehicle and mobile asset tracking solutions for commercial and government customers. Terms of the acquisition of assets were not disclosed.
“We are very excited to announce the acquisition of CBSi Holdings. Our strategy for growth includes key, selective acquisitions that provide unique technologies and complete solutions that reach a broad market. CBSi and the BounceGPS vehicle and mobile asset tracking solutions continue that trend,” commented Keith Moore, DataLogic International Chairman and CEO.
CBSi Holdings’ BounceGPS automatic vehicle location (AVL) solutions are built on DataLogic’s AeA award-winning Panther Trak(TM) technology and provide complete collateral protection for auto dealers, secondary lenders and subprime lenders as well asset utilization for commercial and government customers. The system is affordable, easy to install and provides theft protection and location tracking that allows for fast recovery times of stolen vehicles or vehicles that are subject to repossession. The system also permits business owners to monitor the location and use of their mobile assets and provides them with key performance metrics. The BounceGPS solution is offered through a unique pricing model, which eliminates recurring monthly airtime charges typical among competing products.
“We believe BounceGPS is ideally positioned to capture significant market share due to its competitive pricing, low operating costs, reliability, user-friendliness and customizable functionality. For customers, BounceGPS provides a quick ROI by reducing fleet operating costs through increased asset utilization and improving customer satisfaction.” Mr. Moore continued.
CBSi Chairman and CEO Walt Camping commented, “The combination of the award-winning Panther Trak(TM) GPS unit with the capabilities and user friendliness of the BounceGPS application make it a formidable vehicle and mobile asset tracking solution. We’re excited about joining forces with DataLogic and the additional value it will bring our customers.”
Mr. Moore concluded, “We are dedicated to increasing our revenue, which has grown from $2.1 million in fiscal year 2002 to $10.7 million in 2003 and $14.3 million in 2004. With BounceGPS and BounceGPS Fleet, we are addressing an overall market for GPS-based technologies that is forecasted by ABI to exceed $22 billion by 2008, and we are confident that the advantages for customers who adopt our solutions will win us a fair share of that market and spur further growth for our company. We anticipate that revenues from the BounceGPS avl solution will exceed $10,000,000 over the next 12 months.”