Latest Alanco Technologies News
Apr 12, 2021
StarTrak Brought by Arizona Company By: Yvonne Darling July 7, 20063:00 am Alanco Technologies reports that it has fully acquired Morris Plains-based GPS tracking and wireless data services provider StarTrak Systems.Alanco Technologies reported that it has fully acquired Morris Plains-based GPS tracking and wireless data services provider StarTrak Systems. The $15 million acquisition is an all-stock transaction made up of 13.2 million Alanco common shares, plus assumption of about $5 million in liabilities. StarTrak sales are currently over $1 million per month, according to Alanco. Alanco CEO Robert R. Kauffman said, ÂStarTrak is a transformational transaction for our company, positioning Alanco as the dominant provider of wireless tracking and data-management services in two emerging niche markets, each of which have a worldwide potential in excess of $1 billion.Â Alanco Technologies is based in Scottsdale, Ariz., and develops tracking systems used to trace the location and movement of inmates by the corrections industry.