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Article: United States: Alanco Announces Divestiture Financing Plan and Strategic Focus on Wireless Monitoring Services Business.
- Article from:
- TendersInfo
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mamta03
Alanco Technologies, Inc., today announced a new strategic initiative focused on accelerating growth of the Company s core wireless monitoring services business, StarTrak Systems, LLC. Since Alanco acquired StarTrak in June 2006, its sales have grown at a compounded rate of 25% to approximately $14 million in the fiscal year ending June 30, 2009. A key element of the new plan is significant additional non-dilutive financing expected to be generated through the divestiture of the Company s non-core assets, Alanco/TSI PRISM, Inc., its RFID inmate tracking business, and Excel Meridian Data, Inc., its data storage products business. The Company ...
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