Wireless Matrix , a provider of GPS fleet tracking services, has signed a definitive agreement to acquire certain assets of SkyGuard, a provider of fleet management systems. Closing of the transaction was expected to occur on or about Sept. 30 subject to customary closing conditions.
SkyGuard is a private company with more than 20 years of experience in wireless technology and vehicle security. This transaction supports Wireless Matrix’s priority to grow its applications business through new subscriber additions, with the absorption of 15,000 subscribers.
Nearly 75 percent of SkyGuard’s subscriber base is comprised of enterprise customers similar to Wireless Matrix’s base. Coupled with recent organic growth, the SkyGuard transaction represents the achievement of Wireless Matrix’s goal of attaining 100,000 subscribers, the company says.
The acquisition opens an opportunity for the company to establish a beachhead in the construction industry, and grow its market share in municipality, government and non-government organizations (NGO). The acquisition also doubles the company’s subscriber base in the small and mid-sized business market (SMB), a new growth avenue for Wireless Matrix.
As a result of the transaction new features will be added to Wireless Matrix’s FleetOutlook offering, including asset tracking with theft alerts, state fuel tax reports and adherence to posted speed limits, the company says. These features will be released as part of FleetOutlook within the next four months.
SkyGuard customers will have a seamless transition to the FleetOutlook platform and gain access to Wireless Matrix’s features and functionality. These include customizable dashboards, a configurable reports platform, Open Partner Interface (OPI), TechConnect, TechDirect, ongoing upgrades, and services such as training and support.