Translogik Buys Pneu-Logic IP and Trading Name
Translogik Ltd, a wholly owned subsidiary of RFID company Transense, has announced the purchase of intellectual property (IP) relating to Bluetooth enabled tyre inspection tools manufactured by Pneu-Logic and the trading name Pneu-Logic. Translogik paid an initial amount of £50,000 and additional payments will be made, subject to sales volumes, up to an undisclosed agreed maximum. This latest announcement follows the news (on 8 June 2009) that Translogik, Transense’s sales arm, was to distribute the Pneu-Logic made bluetooth tyre tools.
According to the companies, this agreement enables Translogik to gain “complete control of the manufacture and distribution of these tools and reduce the cost of sales.” Pneu-Logic will continue to manufacture the probes in the near term in order to effect an orderly handover. Translogik is in ongoing negotiations to move production to a highly respected, mid-sized, UK-based engineering company which has additional facilities in China.
Graham Storey, Transense CEO, said: “The recent series of price rises in tyres and fuel has brought these costs into sharp focus within the increasingly competitive fleet service providers market. Prolonging the life of tyres is a critical element in maintaining profitability for fleet management operations. Our range of tyre management solutions provide our customers with a rugged, high quality, cost effective tool, for maximising the life of their tyres. In addition to the recent Goodyear rollout, we have received additional orders from around the world for our expanding suite of data collection tools.
“We are delighted to have secured this acquisition; these tools form an integral part of our overall strategy for the Off the Road (OTR) and commercial truck fleet markets, and this agreement gives us considerable additional flexibility in executing our future expansion plans”.
George Yeomans, CEO of Pneu-Logic said “Integrating our data collection tools into a solution which will additionally incorporate an RFID reader and SAW (Surface Acoustic Wave) TPMS sensor reader is exactly what the market has been demanding. I am convinced this will be a huge success”.
Related News:
Comments