XATA agrees to acquire GeoLogic Solutions
Feb 1, 2008 12:00 PM
XATA Corp. has signed a definitive agreement to acquire GeoLogic Solutions Inc. for approximately $17.5 million. Consideration for the transaction will be paid in approximately 87 percent cash, 11 percent in notes of XATA, and 2 percent in XATA common stock at the time the transaction closes. The transaction is expected to close in first quarter 2008, and closing is subject to certain conditions.
Based in Herndon VA, GeoLogic provides the commercial trucking industry with wireless asset management systems that reduce operational costs while increasing overall efficiency. Its mobile communications and tracking system, MobileMax, is installed on hundreds of fleets, representing more than 35,000 trucks, across the United States.
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