SkyBitz gets green light to sell service in Mexico

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SkyBitz announced Tuesday, Feb. 20, that is taking its asset-tracking and information management service south of the U.S. border. The company, fresh off scoring a $10 million fourth round of financing, has received regulatory approval to sell its satellite-based global locating system to logistics and transportation companies in Mexico.

Privately held SkyBitz has formed a joint venture with Grupo Pegaso, a privately held company in Mexico City, to launch SkyBitz de Mexico to support fleets based in the country. Grupo Pegaso will oversee sales and marketing efforts, while SkyBitz will lead product research and development activities from its headquarters in Northern Virginia.

In 2005, SkyBitz received the go-ahead to sell in Canada, and the company also is eyeing an expansion throughout Latin America. “Providing our service in Mexico is an important step in our strategic plan to dominate the asset-tracking market in North America,” says Rick Burtner, chief executive officer of SkyBitz.

With new money in tow, SkyBitz plans to bulk up its staff. It currently has 50 workers, and the company plans to add another 25 employees. The company is searching for managers, engineers, sales representatives, product development staff and customer service representatives.