SANDY, Utah -- SecureAlert, Inc. announced that it has agreed to acquire GPS Global Tracking & Surveillance System Ltd. (GPS Global), a privately-held technology research, development and services company based in Kfar Saba, Israel, a suburb of Tel Aviv. GPS Global brings to SecureAlert a suite of innovative technology solutions and services for locating, tracking, tracing, monitoring and surveillance of offenders, vehicles, facilities and human resources. In addition to expanding its global presence, SecureAlert gains a significant R&D presence in a nation well-known for its many entrepreneurial innovations in technology, electronics and security systems.
Closing of the acquisition is expected on or about April 1, 2014, subject to conditions, representations and warranties customary in transactions of this type. Further details regarding the GPS Global acquisition are contained in a Current Report on Form 8-K, filed by SecureAlert with the US Securities and Exchange Commission on March 18, 2014.
Founded in 2007, GPS Global's advanced technology and software are the foundation for some of the most efficient and precise location, tracking, monitoring and surveillance technology solutions offered in the fast-growing worldwide monitoring industry. SecureAlert plans to capitalize on GPS Global's success and the country's considerable R&D resources by locating development of its next-generation product in Israel.
"We evaluated many successful companies as acquisition candidates to launch our expansion strategy, which in turn will accelerate SecureAlert's progress toward establishing a strong leadership position in the evolving electronic monitoring industry," said SecureAlert Chairman Guy Dubois. "GPS Global brings considerable and immediate value to SecureAlert by virtue of its seasoned management team, Israel-based R&D capabilities and extensive business connections across many international markets."
GPS Global's owner and Chairman Eli Sabag served as an officer in an elite Israeli Defense Forces unit, and has many years of experience in providing premium security and investigation services to corporate, institutional and private clients around the world. Mr. Sabag will spearhead SecureAlert's business development in Europe, Asia and other markets outside the Americas. He will also lead consolidation of SecureAlert's R&D efforts at its Israel facilities.
"We are excited for GPS Global to become a part of SecureAlert, and to use our combined talents and resources to propel the world's most innovative electronic monitoring technologies into expansive new markets," said Mr. Sabag. "Together we expect to develop and introduce a new generation of cost-efficient, high-end solutions to meet the needs of thousands of government agencies and businesses of all sizes."
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