RACO Wireless Announces Acquisition of Position Logic
Acquisition of location-based services market leader brings network and application layers together to consolidate and enhance M2M value offering
July 18, 2013 (Newswire.com) - M2M enabler RACO Wireless today announced it has completed the acquisition of Position Logic, a Florida-based leader in integrated B2B location-based services.
RACO Wireless and Position Logic will remain focused on their shared goal of removing the barriers to success in the M2M space and accelerating the efforts to make the Internet of Things a reality.
"Position Logic has put together a phenomenal product and a brand that is known in the M2M space throughout the world," said RACO Wireless President John Horn. "We are excited to once again act as a positive disruptor in the industry by expanding our offering to our M2M solution providers and enhancing the value chain with Position Logic's exceptional team and proven technologies."
Established in 2007, Position Logic now operates in more than 50 countries around the world and has offices in Florida and the Dominican Republic. Their services allow M2M solution providers to offer enterprises a way to easily track and manage assets through a secure, scalable, web-based platform. Featuring a suite of customizable products, Position Logic is able to integrate virtually any signaling device into its software, allowing real-time monitoring across the globe.
"When we started Position Logic a little over 6 years ago, we wanted to do something significant," said Felix Lluberes, president and CEO of Position Logic. "We saw the complexities of GPS tracking, and we wanted to make it as simple as possible for businesses to locate and track their assets. We have come a long way, and in joining RACO Wireless, we now have the scale to go much further through the integration of technology, expertise and resources."
The acquisition of Position Logic will complement RACO's strategy of being the easiest to do business with. "The Internet of Things is currently surrounded by fragmentation and complexity, and we want to change that by making it easier to integrate technologies and services. By bringing the application and network layers together, we not only shake up the industry, but we create value for our partners and their customers by providing a more complete solution," added Horn. "Some partners only require connectivity while others an entire solution, some groups need help with certain components to enhance their offering, and we are there to help where needed."
According to Kathryn Weldon, principal analyst of enterprise mobility at Virginia-based analyst firm Current Analysis, "The Position Logic acquisition will allow RACO to go further up the value chain-beyond just network connectivity and service enablement. GPS asset tracking comprises many different mobile M2M use cases in different industries. RACO can now help partners quickly build solutions to track and monitor cargo, fleets, people, patients, construction assets and effectively empower dispatch and geofencing operations and more across the M2M ecosystem."
The Position Logic division will continue to offer its current products globally and exclusively through white-labeled relationships with Elite Value Added Resellers (VAR's). These products will also be tied together with the award-winning set of tools offered by RACO Wireless to provide customers a seamless technology experience from the design stage through post-launch.
Position Logic currently employs more than 40 people and will continue to be located in offices in Florida and the Dominican Republic. Position Logic President and CEO, Felix Lluberes, and current CTO, Hong Long, will join RACO's leadership team. Financial terms of the deal were not disclosed.
About RACO Wireless
RACO Wireless (www.racowireless.com) is a leading provider of wireless data solutions to the machine-to-machine (M2M) industry. The company specializes in delivering wireless data your way by making it easy for companies to build, support and enhance wireless M2M applications. RACO Wireless can assemble a flexible, end-to-end M2M wireless connectivity solution for its partners - including delivering custom rate plans, tailored billing solutions and customized wireless connectivity as well as helping them brand their M2M applications and delivering 24/7 customer service. Among its numerous awards, RACO Wireless has been recognized with a Stevie® Award from the American Business Awards as 2012's "Most Innovative Tech Company" and as the "2012 Entrepreneurial Company of the Year" by Frost and Sullivan. For more information, visit the company's website at http://www.racowireless.com/company/press. Follow RACO Wireless on Twitter (@racowireless) or on LinkedIn.
About Position Logic
Position Logic, LLC, an Inc. 500 company, (www.positionlogic.com) is a leading B2B location-based services provider with offices in the United States and the Dominican Republic and clients in over 50 countries across the continents of North America, South America, Europe, and Africa and in the Middle East region.
Jill Van Nostran for RACO Wireless
1-877-701-2060 ext. 506