GPS Global Tracking & Surveillance System Ltd. of Kfar Saba has been acquired by Utah-based SecureAlert Inc. (Nasdaq: SCRA) for $11 million.
GPS Global was founded in 2007. It develops and provides locating, tracking, tracing, monitoring and surveillance solutions of offenders, vehicles, facilities and human resources.
"GPS Global will offer a plethora of technological solutions such as digital monitoring systems that have the ability to locate, track, and trace vehicles, resources, and even offenders," said SecureAlert in a statement. "They will also bring along research and development capabilities to create leading edge technology products and services." SecureAlert will utilize GPS Global’s resources to develop next-generation products.
"We will use our combined talents and resources to propel the world's most innovative electronic monitoring technologies into expansive new markets," said GPS Global chairman Eli Sabag. "Together we expect to develop and introduce a new generation of cost-efficient, high-end solutions to meet the needs of thousands of government agencies and businesses of all sizes."
SecureAlert chairman Guy Dubois said, "GPS Global brings considerable and immediate value to SecureAlert by virtue of its seasoned management team, Israel-based R&D capabilities and extensive business connections across many international markets."
Published by Globes [online], Israel business news - www.globes-online.com - on March 19, 2014
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