Skip to content

Telular to Acquire SkyBitz

12/5/2011 4:00:00 PM
Write a Letter to the Editor

Print This


Remote monitoring company Telular Corp. on Monday announced it will acquire SkyBitz, a provider of technology used to track and manage truck trailers, intermodal containers and other assets.

Terms of the transaction include a purchase price of $42 million, consisting of $35 million in cash and $7 million in stock, Telular said. The acquisition is expected to close in 60 to 90 days.

Telular said the acquisition expands its position in the machine-to-machine space as a result of SkyBitz’s additional customer base and proprietary technology platform.

“We believe that this acquisition will help us accelerate our growth and profitability in the wireless space while maintaining a strong financial position and staunchly supporting a tangible return to our shareholders in the form of a quarterly dividend,� Telular CEO Joseph Beatty said in a statement.

SkyBitz’s global remote asset management technology provides users with real-time information on the location and status of assets.

Follow Transport Topics on RSS Twitter Facebook

 Print This


© 2011, Transport Topics Publishing Group. All rights reserved.




Click Here!

Emil Estafanous, CPA, CFF, CGMA