Cybit, a leading online Telematics Service Provider, has acquired the business assets of OxLoc Ltd, the supplier of battery powered tracking for non-powered assets such as trailers, shipping containers and plant equipment.
OxLoc was originally founded by Isis Innovation Ltd, the technology transfer company of the University of Oxford and has been operating since December 2000. The acquisition covers all hardware, software and intellectual property, which Cybit will continue to develop.
Cybit will integrate OxLoc's trailer tracking applications into its market-leading Fleetstar Online solution to enable Cybit customers to monitor the status of goods-in-transit through interfaces that monitor a range of conditions, including temperature, and track individual consignments through RFID readers.
Commenting on the purchase Steve Jones, Director of Specialist Tracking Solutions at Cybit said: "Integrating Oxloc technology into our portfolio will allow us to offer continuity of service to OxLoc's existing customers together with the potential for both Oxloc and Cybit customers to benefit from an expanded solutions portfolio."
Cybit's Chief Executive Officer, Richard Horsman said: "As a UK market leader with a proven track record as a consolidator, Cybit is well placed to further develop the business through a combination of organic and acquisitive growth. OxLoc provides a number of complementary synergies with our Fleetstar product suite - which is proven by the fact that we have worked with OxLoc before to deliver battery powered asset tracking - and we are happy to have acquired their business assets."
OxLoc's partnerships, reseller agreements and customers will continue to receive a full service through Cybit. OxLoc partners, which include BT, Stiller Group and Balfour Beatty, will see improvements in service as they will be able to deal with a larger sales and marketing team and installed customer base to drive their partnerships forward.
About OxLoc Ltd
OxLoc Ltd developed power management techniques allowing long life battery operation. As a result of successfully commercialising this technology, it now commands a unique niche market position for remote tracking and condition monitoring by combining innovative sensor and RFID wireless identification technologies with the established technologies of GPS (Global Positioning Systems) and GSM (Global System for Mobile Communication).
Cybit is a global force in Telematics, operating within three core sectors: Internet-based vehicle Telematics solutions; Economic Exclusive Zone (EEZ) Management; and Private Mobile Radio (PMR) based asset tracking and precise positioning solutions.
In the vehicle Telematics sector, Cybit is one of Europe's leading Telematics Service Providers. More than 1,700 business-to-business clients use the company's fleet and asset management solutions to manage in excess of 45,000 assets primarily in the public sector, service industries and logistics and distribution markets. Solutions include in-vehicle technologies, workflow management, CanBus integration and internet-based monitoring and reporting software. The company also provides consulting services to advise on operational and legal issues such as duty of care and working hours.
Cybit is also a global leader in the field of EEZ fisheries management, tracking many thousands of fishing vessels on a daily basis. The company provides vessel monitoring and catch management solutions for many of the world's major fishing nations. As well as EC governments including the UK, Ireland and Greece, Cybit helps to manage valuable fishing stocks for emerging nations such as Ghana, Namibia and Mozambique
Cybit's PMR business provides asset-tracking and precise positioning solutions for both maritime and land-based applications including exploration and mining. Its precise positioning solutions are in constant use in the location and exploitation of oil, gas and mineral reserves around the globe.