[Satellite TODAY 12-06-11] Tellular is acquiring SkyBitz, a provider of mobile resource management (MRM) solutions focusing on tracking and management of truck trailers, intermodal containers, sea-going containers, rail cars, power generators and rental equipment, the company announced Dec. 5.
Tellular has signed a definitive merger agreement, and the deal is subject to regulatory approval. The deal is expected to close in the next two to three months and is valued at approximately $42 million.
SkyBitz’s Global Locating System (GLS) satellite-based technology provides real-time visibility of many asset types. SkyBitz addresses a multi-billion dollar market opportunity by reducing operating costs, increasing efficiency and aiding in the compliance with regulatory requirements across an increasingly complex set of supply chains and business ecosystems.
