Technology Briefs - Nov. 11 - Nov. 17
The Latest Headlines:
- Comdata Acquires Assets of Fleet Team
- AirIQ Narrows 3Q Loss
- Minorplanet Systems Announces Reverse Stock Split
- Maptuit Says FleetNav Suite Software Available
- Rand McNally Unveils Enhanced Mapping Software
- Wal-Mart Wants Suppliers to Use Radio ID Tags
- Market Transport Acquires InTransit
- Interest Growing in Lane-Changing Device
- Stonepath to Acquire Majority Stake in Chinese Firm
- Bendix Names McAleese CEO
- AirIQ Narrows 3Q Loss
Comdata Acquires Assets of Fleet Team
Comdata Corp., a provider of transaction and information services, said Friday it acquired the assets of Fleet Team Inc., a transaction management software company specializing in services for the commercial fleet market.Fleet Team will become an operating unit of Comdata's merchant services division, which provides point-of-sale systems for truck stops and automotive retailers. Terms of the acquisition were not disclosed, Comdata said in a release.
Comdata is a subsidiary of Ceridian Corp. The company said the deal would position Comdata to provide more highly specialized transaction services to a wider range of merchants in the retail market. Transport Topics
AirIQ Narrows 3Q Loss
AirIQ Inc., a wireless communications and security company, said Thursday its net loss for the third quarter was $1.4 million or 2 cents per share, compared with a loss of $2.7 million or 5 cents a year earlier.The company said in a release it had surpassed 40,000 subscribers in its commercial fleet business during the quarter.
Total revenues increased 30% to $1.6 million, while operating expenses decreased by 20.5%, the company said. Transport Topics
Minorplanet Systems Announces Reverse Stock Split
Minorplanet Systems USA Inc., a provider of wireless management systems for commercial fleets, said Thursday its stockholders approved a one-for-five reverse stock split.The reverse split will take effect before trading begins on Dec. 3, the company said, and would reduce the company's outstanding shares to just under 9.7 million.
Minorplanet said the reason for the split was to facilitate the continued listing on the Nasdaq SmallCap Market. Transport Topics
(Click here for previous coverage.)
Maptuit Says FleetNav Suite Software Available
Maptuit Corp. said Thursday its FleetNav Suite software, which combines routing, fuel pricing and fleet monitoring, is available.The company said in a release that FleetNav Fuel provides drivers and fleet managers with real-time fuel pricing information, while FleetNav Alert provides managers with a real-time view of a fleet's activities.
Also included is FleetNav Directions, which provides "truck-friendly" directions to drivers, taking into account toll charges, hazardous roads low clearances and road restrictions.
"We are providing our customers with the ability to view their fleet operations in both real-time and through historical reporting, enabling them to make the necessary corrective changes needed to positively affect their bottom line," said Chief Executive Officer Jeff Papows. Transport Topics
Rand McNally Unveils Enhanced Mapping Software
Rand McNally said Tuesday its Transportation Data Management subsidiary had released an enhanced version of the its IntelliRoute software.The company said in a release the software includes more than 200,000 updates to the National Highway Network, and about 800,000 new Canadian Postal codes that provide tens of thousands of additional cross-border routing points.
It also provides detailed dispatch and driver itineraries, construction updates, alternative truck-usable routes and other features aimed at commercial fleets, the release said. Transport Topics
Wal-Mart Wants Suppliers to Use Radio ID Tags
Some consumer products companies will have to invest millions of dollars to comply with Wal-Mart's request that every carton and palette it receives carry a radio identification tag, the New York Times reported.Known as radio-frequency identification, the technology can track containers on trains and ships and in automatic toll systems.
In its new form, it is seen as the long-term successor to bar codes in the retail industry, the Times said. Radio tags can carry more information about the product, be scanned more rapidly and can be found even if they are hidden in cartons.
Wal-Mart said in June it expected its top 100 suppliers to adopt the technology by the end of 2004 and the rest of its suppliers to do so in 2005, the Times said. In late September, the Department of Defense said it would also require major suppliers to use such tags by the end of 2004. Transport Topics
Market Transport Acquires InTransit
Market Transport Ltd. said Nov. 10 it had purchased transportation broker InTransit, which operates through an online network of 52 offices in 23 states. Terms of the deal were not disclosed.Market Transport said in a release it ships freight on a network of 400 trucks and 700 trailers as well as rail. InTransit's brokerage services facilitate the movement of more than 100,000 truckloads per year.
The combined company is expected to generate nearly $200 million in revenue in 2003, the release said. Transport Topics
Interest Growing in Lane-Changing Device
The AutoVue Lane Departure Warning System, which warns drivers if they have drifted out of a lane and has been installed on more than 3,000 trucks, could be used in some passenger cars as early as next year, the Edmonton Journal reported.The device, which is mounted on a truck's windshield acts and as an alarm, was developed by Iteris Inc. and DaimlerChrysler AG. If a truck drifts into another lane, and the unit sends an audible warning that sounds like a car driving over a rumble strip, the article said.
Currently it costs nearly $2,000 to install on trucks. There are no other lane-departure systems on the market for passenger vehicles, although some German firms are developing prototypes, the Journal said. Transport Topics
Stonepath to Acquire Majority Stake in Chinese Firm
Logistics provider Stonepath Group said Nov. 10 it had agreed to acquire a majority interest in China-based Shaanxi Sunshine Express Int'l Co."Shaanxi will establish Stonepath as a leading transportation provider" in China, Stonepath Chief Executive Dennis Pelino said.
Stonepath said in a release its 55% interest in Shaanxi is valued at up to $11 million. The deal includes $3.5 million in cash, $2 million in stock and a 5-year earning arrangement based upon the future performance of Shaanxi.
The deal is expected to close within 90 days, Stonepath said. Transport Topics
Bendix Names McAleese CEO
Bendix Commercial Vehicle Systems LLC, a manufacturer of air brake and control systems, said Joseph McAleese had been appointed chief executive officer.McAleese, who was promoted to president in March 2002, immediately assumed the CEO position previously held by Robert Oswald, the company said in a release.
Oswald will continue to serve as chairman, Bendix said. Transport Topics
