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WirelessDevNet.com Press Release
SARS Corp. Completes Acquisition of Andronics Ltd.
SEATTLE, Dec 21, 2007 -- SARS Corp. (OTCBB:SARO) ("SARS"), a leading provider of remote asset management and telematics solutions, today announced that the company closed its asset purchase agreement with Andronics Ltd. ("Andronics") on December 20, 2007. The acquisition of Andronics, which delivers two-way data solutions for monitoring and managing remote assets such as vehicles and liquefied petroleum gas ("LPG") tanks, is a key part of the SARS commitment to deliver real-time business intelligence about fixed and mobile assets located anywhere in the world.
SARS anticipates that this completed acquisition will generate $4.5M - $5.5M USD in additional revenue for the company through December 31, 2008, based on the expected deployment of approximately 5,000 new LPG monitoring units. Andronics already has 4,000 units deployed with some of Europe's largest energy companies.
"We are already seeing strong demand for Andronics' breakthrough technology for the remote monitoring of propane and butane gas tank levels via satellite," said Clayton Shelver, CEO of SARS. "The energy market is a key opportunity for the company, and we expect unit sales to accelerate as we further penetrate Europe and expand deployments into North and South America."
Andronics' UtilityEye LPG system monitors remote LPG tanks, both above and below ground, identifies fuel levels and sends utility notifications when a tank is filled and/or transmits alarms when fuel levels drop to a predetermined level. UtilityEye LPG is equipped with a battery power supply and information is communicated to the utility via satellite, making monitoring reliable in remote locations.
In addition to the UtilityEye LPG system, Andronics developed LEOCATE, a solution that uses General Packet Radio Service ("GPRS") technology to track and monitor the movement and location of vehicles. Andronics' customer base includes some of the largest trucking fleets in Ireland.
About Andronics Ltd.
Andronics Ltd., established in 1996 and headquartered in Northern Ireland, provides global two-way data solutions for monitoring and controlling remote assets. With a strong commitment to research and development, the company is widely recognized for its technical innovation and commercial success in telematics applications. For more information visit www.andronics.com.
About SARS Corp.
SARS Corp. provides remote asset management and telematics solutions that deliver real-time business intelligence about fixed and mobile assets anywhere in the world. With the Intelitrax software suite, business and government organizations in the marine, energy, transportation and other industries can track, monitor and manage assets for improved safety, better security and increased business efficiency. To learn more about how SARS is helping companies centralize and leverage asset intelligence, visit www.sarscorp.com.
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