CONCORD, Ontario, December 1, 2020 – – Ultrack Systems Inc. (OTC PINK: MJLB) (“Ultrack” or the “Company”), an emerging leader in the GPS tracking solutions marketplace, is excited to announce that the Company has acquired and rebranded Vexxar GPS Tracking (“Vexxar”), a successful company operating in the transportation industry that provides tracking solutions for drive-ends and trailers with refrigeration (reefer) controls.
Ultrack originally acquired the client base of Vexxar on January 15, 2018. Unfortunately, the transaction was cancelled due to incompatible tracking platforms. As a result of Ultrack’s updated tracking platforms, the transaction was able to be revisited successfully. Vexxar’s assets and customer base have now officially been acquired by Ultrack.
The Company plans to rebrand Vexxar under the “BLIPTRACK” brand, which will be a division of Ultrack Systems. Management notes that this transaction represents a broad augmentation of the Company’s assets, customer base, and growth potential, which has already created the potential for a new strategic partnership with a separate entity. Details on this development will be announced in the near future.
“We are very excited to begin the strategic integration of a very valuable asset – one that has been on our radar for some time due to its significant synergies and value-add for our shareholders,” commented Ultrack CEO, Michael Marsbergen. “That value is already beginning to assert itself, with some exciting developments now within reach that should drive further advances and an overall expansion in our positioning as an emerging leader in the space.”
About Ultrack Systems Inc.
Located in Toronto, Ontario, Ultrack Systems Inc., (www.ultrack.ca), is a publicly traded company listed on the OTCMARKETS under the MJLB trading symbol. Ultrack Systems Inc., is a provider of GPS tracking solutions. We develop, implement and distribute electronic monitoring and tracking systems for companies in leasing, transportation, construction, disposal and many other service driven industries. Our platform includes live tracking, reports and alerts on a web based platform. Our mission is to provide the best fleet tracking, reporting systems and our commitment to service.
Safe Harbor Statement
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “potential” and similar expressions. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Ultrack Systems, Inc