- MetAlert recently announced the planned acquisition of TrakTec LLC, a Florida-based leader in location awareness technology for consumer and business applications
- The acquisition is expected to add several products to MetAlert’s existing suite of products, one of which is an RFID and Bluetooth-enabled tracking technology called SafetyNet(R)
- The SafetyNet Tracking System comprises the SafetyNet Bracelets that patients wear, and a receiver-antenna combo used by police departments and first responders
- The Chelmsford Police Department in Massachusetts recently reported it had successfully located a missing senior citizen with dementia because of its participation in the SafetyNet program
- The department has, over time, established that radio frequency can be superior to GPS at successfully tracking missing persons, especially in challenging conditions such as densely wooded areas, buildings, basements, and shallow water
MetAlert (OTC: MLRT), a pioneer in smart, mobile, and wearable GPS tracking and recovery location-based products and services, is implementing a solid growth strategy that has seen it enter into a Heads of Terms agreement to acquire TrakTec LLC, a Florida-based leader in location awareness technology for consumer and business applications. Announced January 11, the agreement is expected to close on or before March 17 this year upon completing satisfactory due diligence and audits (https://ibn.fm/uzKUZ).
The acquisition is expected to add iGPS products, namely the Wizard GPS Tracking Watch Phone for children and the Phoenix GPS-based smartwatch for seniors, and SafetyNet(R), a radio-frequency identification (“RFID”) and Bluetooth-enabled tracking technology, to MetAlert’s existing suite of…
NOTE TO INVESTORS: The latest news and updates relating to MLRT are available in the company’s newsroom at https://ibn.fm/MLRT
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