Business
BSM Technologies Inc. Announces Acquisitions of U.S.-Based Companies, Lat-Lon, L.L.C. and JMM Management Group, LLC d/b/a JMM Global
TORONTO , May 15, 2014 /CNW/ - BSM Technologies Inc. ("BSM" or the "Company") (TSX-V: GP...
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\n\n\nTORONTO, May 15, 2014 /CNW/ - BSM Technologies Inc. (\"BSM\" or the\n \"Company\") (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems. today announced that its\n wholly-owned subsidiary, BSM Technologies U.S. Holdings, Inc.,has\n entered into a definitive purchase agreement to acquire 100% of the\n membership interests of privately held Lat-Lon, L.L.C. (\"Lat-Lon\"), a\n Colorado limited liability company (the \"Lat-Lon Acquisition\"). The\n Lat-Lon Acquisition is expected to close on May 30, 2014, subject to\n customary closing conditions. All amounts are in United States dollars\n unless otherwise stated.\n\n\nThe Company also announced today that BSM AcquirorCo, LLC, an indirect\n wholly-owned subsidiary, has acquired 100% of the membership interests\n of privately held JMM Management Group LLCd/b/a JMM Global (\"JMM\"), an\n Illinois limited liability company (the \"JMM Acquisition\", and together\n with the Lat-Lon Acquisition, the \"Acquisitions\").\n\n\nFounded in 1999, Lat-Lon provides wireless GPS tracking and monitoring\n solutions for mobile assets with a specific focus on the rail market.\n Lat-Lon's key products include a locomotive monitoring unit (LMU) and a\n solar-powered GPS monitoring system (STU) for railcars and trailers\n that allows fleet managers to know the condition and location of their\n assets at any given time. Lat-Lon has built a broad customer base\n including Consolidated Rail Corporation (Conrail), Union Pacific\n Railroad and ABB, Ltd. and currently has approximately 9,000 active\n units in the field.\n\n\n\"The acquisition of Lat-Lon will significantly expand BSM's product\n offering within the rail vertical by adding rail car and locomotive\n solutions to our current high-rail product offering,\" said Aly\n Rahemtulla, BSM President & CEO. \"Through Lat-Lon, we acquire a strong\n product portfolio and access to an impressive customer base,\n positioning BSM as a clear leader within the rail vertical.\"\n\n\nIllinois-based JMM is a leading provider of storage tank management and\n regulatory compliance solutions. JMM's key offering is a software\n solution that assists clients in monitoring their storage tanks while\n managing compliance requirements associated with these assets. Founded\n in 2002, JMM has...