Geoforce Plans to Acquire Trakopolis
Geoforce will acquire the assets of Trakopolis’ subsidiary Trakopolis SaaS. Based in Calgary, Alberta, Trakopolis SaaS provides global traceability solutions. Geoforce, which is headquartered in Plano, Texas, plans to integrate Trakopolis SaaS’ capabilities with its global traceability solutions. Geforce combines cloud-based software platform with GPS tracking devices and global satellite and cellular networks.
According to a press release, “substantially all” of Trakopolis SaaS’ employees are expected to continue with Geoforce. The purchase price will be used to repay Trakopolis SaaS debts. The transaction is subject to court approval and is expected to close on or before January 24, 2020.
“We are thrilled to welcome the Trakopolis team and customers to the Geoforce family,” Geoforce CEO James MacLean III said. “Trakopolis’ customers and solutions are highly complementary and we look forward to continuing to innovate our combined product offering. We’re also excited to build upon Trakopolis’ leading position in Canada.”