@Road(TM) Inc., Tuesday announced that it has agreed to acquire substantially all the assets of Differential Corrections Inc. (DCI).
The transaction will enable @Road to provide Differential GPS (Global Positioning System), a precise location service, to wireless Internet devices, the telematics industry and @Road customers, and to make the last mile of delivery more cost-effective for both e-commerce and bricks and mortar businesses.
@Road is acquiring a wide-area differential GPS network, the exclusive commercial rights to certain of the underlying intellectual property of the differential GPS network, and an inverse differential GPS system that will enhance the accuracy of @Road location services to 10 meters or less.
The acquisition includes licensing agreements with FM radio stations across the United States that would enable @Road to broadcast the Differential GPS service, plus local traffic and weather, through the FM stations' extra bandwidth to specially equipped GPS receivers. @Road will also acquire agreements with DCI's international partners who are licensed to provide similar services in Europe and Asia.
"The inverse differential correction technology developed by DCI complements our existing patented technology for integrating GPS, wireless data networks and the Internet," said Krish Panu, chairman and CEO for @Road. "Our products and services will be enhanced by this unique combination of high-precision location and Internet-based information distribution."
@Road, based in Fremont, launched the first of its Internet-based services in 1999 with the introduction of FleetASAP(SM), a fleet management service accessed through the Internet. This new technology will give FleetASAP customers the ability to know within 10 meters where every vehicle in their fleet is at any given time, according to Panu.
"Mobile e-commerce is a growing part of many businesses," he said. "@Road is positioned to make that important last mile of delivery much more effective and profitable and to help change the way people do business."
The consummation of the transaction is subject to the receipt of necessary governmental consents and the satisfaction of other customary conditions to closing.
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