February 2001

Vehicle tracking and management specialist Minorplanet Systems has acquired a 64 per cent share in @Track Communications, a US-based provider of mobile data and mobile communications solutions for long-haul truck fleets and similar applications. Minorplanet says the transaction is an important step in implementing its strategy of expansion into the US. According to Minorplanet chairman Michael Abrahams, the US represents "the greatest single market opportunity" for the company.

Just prior to announcing the deal, Minorplanet concluded an agreement under which @Track would have the exclusive right to market, resell, distribute and operate Minorplanet's VMI technologies and services throughout North America.

For the year ending in 1999, @Track's sales were $95.5 million and it made a gross profit of $34.3 million, but recorded operating losses of $2.85 million.