SARS Corp., a provider of remote asset management and telematics solutions, announced today, Dec. 21, that the company has closed its asset purchase agreement with Andronics, which delivers two-way data solutions for monitoring and managing remote assets such as vehicles and liquefied petroleum gas tanks.
SARS says the acquisition, terms of which were not announced, is a key part of its commitment to deliver real-time business intelligence about fixed and mobile assets located anywhere in the world. SARS says the acquisition will generate $4.5-$5.5 million in additional revenue for the company through Dec. 31, 2008, based on the expected deployment of about 5,000 new LPG monitoring units. Andronics already has 4,000 units deployed with some of Europe’s largest energy companies.
“We are already seeing strong demand for Andronics’ breakthrough technology for the remote monitoring of propane and butane gas tank levels via satellite,” says Clayton Shelver, chief executive officer of SARS. “The energy market is a key opportunity for the company, and we expect unit sales to accelerate as we further penetrate Europe and expand deployments into North and South America.”
Andronics’ UtilityEye LPG system is designed to monitor remote LPG tanks, both above and below ground; identify fuel levels; and send utility notifications when a tank is filled and/or when fuel levels drop to a predetermined level. UtilityEye LPG is equipped with a battery-power supply, and information is communicated to the utility via satellite, making monitoring reliable in remote locations, SARS says.
In addition to the UtilityEye LPG system, Andronics developed Leocate, a solution that uses General Packet Radio Service (GPRS) technology to track and monitor the movement and location of vehicles. Andronics’ customer base includes some of the largest trucking fleets in Ireland, according to SARS.