TruePosition Inc, a wireless location solutions provider, announced that it has acquired contextual location intelligence provider Skyhook Wireless. The financial terms of the deal were not disclosed, according to Directions Mag.
The acquisition deal is beneficial to both companies as it boosts both of their product offerings through the complementary tandem of their technologies, the report stated.
Skyhook Wireless is currently based in Boston, Massachusetts. The company provides Wi-Fi and GPS location software for businesses. TruePosition, on the other hand, creates geo-location solutions for safety and security purposes. The latter is headquartered in Berwyn, Pennsylvania, the report detailed.
TruePosition Chief Executive Officer Steve Stuut said of the deal: "Skyhook's technology provides TruePosition with another important tool in our technology and patent portfolio that perfectly complements our existing offerings. Skyhook's commercial focus balances TruePosition's safety and security strengths, and their location technology further strengthens TruePosition's ability to accurately locate mobile phones indoors. We anticipate that both companies will continue to operate in their respective markets while leveraging any available operational or technological synergies."
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