Trakopolis provides enhanced global traceability solutions and intuitive dashboards that give insight into core business operations such as fleet management, equipment utilization, maintenance and repair scheduling and worker health and safety.
"We are thrilled to welcome the Trakopolis team and customers to the
The Agreement for the transaction includes provisions relating to exclusivity and customary representations and warranties. As part of the transaction, substantially all of the Company’s employees are expected to continue with the Purchaser. The purchase price payable under the Agreement will be used to repay indebtedness of SaaS and as such, no proceeds are expected to be payable to the shareholders (or debt holders) of Trakopolis as a result of the transaction.
Completion of the transaction is subject to a number of conditions, including court approval, and is expected to close on or before
About Trakopolis
Trakopolis is a Software as a Service (SaaS) company with proprietary, cloud-based solutions for real-time tracking, data analysis and management of corporate assets such as equipment, devices, vehicles and workers. The Company’s asset management platform works across a variety of networks and devices. Trakopolis has a diversified revenue stream from many verticals including oil and gas, forestry, transportation, construction, rentals, urban services, mining, government and others.
About
Combining a cloud-based software platform with ruggedized GPS tracking devices and global satellite and cellular networks, Geoforce’s Track and Trace solutions bring control to often chaotic field operations. With over 900 customers tracking more than 140,000 assets in 70+ countries, the company operates the world’s largest network of connected field equipment within the Oil & Gas industry, and its solutions are used in many other field operations intensive industries, including agriculture, construction, mining, transportation, logistics, and rail. Headquartered in
FOR FURTHER INFORMATION, PLEASE CONTACT
Telephone: (403) 450-7854
Email: rclarke@trakopolis.com
Forward-looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the continued employment of employees, the integration of the Trakopolis business with
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