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Sandy — SecureAlert, Inc., a tracking and electronic monitoring services company, has agreed to acquire GPS Global Tracking & Surveillance System Ltd. (GPS Global), a privately-held technology research, development and services company based in Kfar Saba, Israel, a suburb of Tel Aviv. GPS Global provides technology solutions and services for locating, tracking, tracing, monitoring and surveillance of offenders, vehicles, facilities and human resources.
Closing of the acquisition is expected on or about April 1, subject to conditions, representations and warranties customary in transactions of this type.
"We evaluated many successful companies as acquisition candidates to launch our expansion strategy, which in turn will accelerate SecureAlert's progress toward establishing a strong leadership position in the evolving electronic monitoring industry," said SecureAlert chairman Guy Dubois. "GPS Global brings considerable and immediate value to SecureAlert by virtue of its seasoned management team, Israel-based R&D capabilities and extensive business connections across many international markets."
GPS Global's owner and Chairman Eli Sabag served as an officer in an Israeli Defense Forces unit, and has many years of experience in providing security and investigation services to corporate, institutional and private clients around the world. Sabag will spearhead SecureAlert's business development in Europe, Asia and other markets outside the Americas.