Jul. 22, 2010 (Filing Services Canada) -- BSM Technologies Inc. (GPS - TSX Venture), has reached agreement with Emerson Process Management (NYSE: EMR) to acquire their iTrax fixed asset monitoring business.
The iTrax service provides ongoing monitoring of pressure and temperature sensors installed on geographically diverse gas storage tanks. It is currently used by the leading industrial gas companies in seven countries to manage thousands of assets. iTrax allows these customers to optimize service and cost, by ensuring that they provide dependable service and never leave their customers with empty tanks while eliminating the expense of unneeded service calls.
BSM already possesses significant expertise in fixed asset monitoring, having developed the iTrax software for Emerson, which manufactured the hardware and marketed the service. Emerson recently decided to discontinue manufacturing the Rosemount 753R with iTrax device. Under the agreement announced today, BSM will provide the service directly to customers on an ongoing basis and is developing a new hardware product to replace the Rosemount 753R with iTrax device.
BSM and Emerson believe that this agreement will allow iTrax customers to continue to receive the information they need to proactively manage inventory levels and reduce unnecessary visits to installations. BSM is committed to maintaining high levels of service for customers and to introduce a new device to meet the needs of companies in search of a similar monitoring solution. This deal will see BSM enter the geographically diverse, fixed asset monitoring business, building on its leading offerings in fleet tracking and management and its already considerable international presence through its SecTrack division. BSM will now be able to offer companies with fixed and mobile assets a full solution, from fixed asset monitoring through to tracking and communicating with the mobile assets used to service them.
"I believe that this agreement is a win for Emerson, BSM and, most importantly, the many companies all over the world that rely on iTrax," said Aly Rahemtulla, CEO of BSM Wireless. "The service will now be operated directly by BSM, a company entirely focused on asset management. We plan to bring our expertise in remote monitoring to this service and expect to build on its success by offering new solutions to customers."
"We believe that BSM's expertise in fixed and mobile asset management will provide significant value to our iTrax customers," said Melissa Stiegler, of Emerson Process Management. "When we decided to exit this space, we wanted to ensure that current and future customers continued to be served. We believe that BSM is the ideal partner to provide the service our customers need."
About iTrax
The iTrax remote web-based monitoring indicator is a fully integrated hardware and web interface solution that provides automated level, pressure, temperature and analytical data to any internet-connected computer in the world. It is used by the world's leading atmospheric, process and specialty gas companies.
About Emerson Process Management
Emerson Process Management (www.emersonprocess.com), an Emerson business, is a leader in helping businesses automate their production, processing and distribution in the power, water and wastewater treatment, metals and mining, chemical, oil and gas, refining, pulp and paper, food and beverage, pharmaceutical, and other industries.
Emerson's Power & Water Solutions division (www.emersonprocess-powerwater.com) is a global supplier of advanced distributed process control and information systems. The Pittsburgh-based company is a recognized leader in developing plant-wide process control solutions for the power generation, water treatment and wastewater treatment industries. Power & Water Solutions plays a key role in the Emerson mission of combining superior products and technology with industry-specific engineering, consulting, project management and maintenance services. Emerson brands include: PlantWeb(tm), Ovation(tm), Scenario(tm), SmartProcess(tm) Syncade(tm), Fisher(r), Micro Motion(r), Rosemount(r), Daniel(r), DeltaV(tm), and AMS(tm) Suite.
About Emerson
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to create innovative solutions for customers through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses. Sales in fiscal 2009 were $20.9 billion. The company is ranked 94th on the Fortune 500 list of America's largest companies. For more information, visit www.Emerson.com.
About BSM
BSM Wireless Inc. is a leading provider of fleet tracking, fleet maintenance, and automated vehicle security systems providing real time, web-based tracking of fleet assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs. For more information, visit www.bsmwireless.com.
Source: BSM Technologies Inc. (TSX-V: GPS) http://www.bsmtechnologies.com
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