Technology Briefs - Sept. 14 - Sept. 20
The Latest Headlines:
- Engineering Firm Invests in IdleAire
- Canadian Firm AirIQ to Acquire Boatracs LLC
- Aether Shareholders Approve Sale
- Canadian Firm AirIQ to Acquire Boatracs LLC
Engineering Firm Invests In IdleAire
IdleAire Technologies Corp. said Sept. 10 it had signed an agreement with engineering firm Parsons Brinckerhoff Inc. to be program manager for national deployment of IdleAire’s ShorePower system.The agreement includes a “substantial investment” by PB in Nashville, Tenn.-based IdleAire, but David Everhart, IdleAire’s chief operating officer, declined to quantify the investment in a Sept. 15 interview with Transport Topics.
ShorePower technology provides power to parked trucks to keep them from idling.
IdleAire said in early September it planned to install its system at all 126 TravelCenters of America locations, at a cost of more than $1 million per site.
Everhart said that deal, which accounted for about 26,000 parking spaces, was not directly related to the PB deal.
Although IdleAire was scheduled to open its 22nd location this month, it did not want to remain in the construction business, he said. Transport Topics
Canadian Firm AirIQ to Acquire Boatracs LLC
Canadian firm AirIQ Inc. said Sept. 14 it had signed an agreement to acquire the assets of Boatracs LLC, San Diego, which provides tele-atics to the commercial marine industry.
AirIQ, Pickering, Ontario, operates wireless Internet applications specializing in telematics, sending messages wirelessly to and from vehicles. It reported a second-quarter loss of $1.83 million on revenues of about $2.1 million.
The company said that with the Boatracs acquisition, it expected to be “cash-flow positive” for first-quarter 2005.
AirIQ said it set up the acquisition through its U.S. subsidiary, would pay $5 million for Boatracs and expected to close the deal by mid-January.
Boatracs, which serves marine supply vessels and commercial fishing operations, has an exclusive license from Qualcomm Inc. to use that company’s satellite technology. Transport Topics
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Aether Shareholders Approve Sale
Mobile communications provider Aether Systems Inc.’s stockholders approved the sale of its transportation division to Platinum Equity, the company said Sept. 15.Holders of about 55% of Aether’s outstanding shares voted in favor of the sale of the transportation business, the company said in statement.
Aether signed an agreement July 21 to sell its transportation unit to Platinum for $25 million in cash.
Aether said at the time it might keep its name in the transportation field, but Mike Brown, Aether’s vice president of marketing, told Transport Topics last week the name was “still to be announced.”
Aether said it wanted to focus on mortgage-backed securities, while Platinum, a privately held holding company, said it wanted to complement several other transportation companies that it owned. Transport Topics
