TORONTO-ServiTRACK Technologies CA is in negotiations with Paradigm Advanced Technologies Inc. to buy the company’s L-Biz location technology solutions and products, which will allow ServiTRACK to act as a location service provider for Venezuela and other countries.
Paradigm’s PowerLOC division executed a term sheet agreement with ServiTRACK, the sister company of Telecommunicaciones, Electronica y Control CA. The term sheet covers a purchase and licensing agreement after a successful demonstration of the location services.
PowerLOC’s solution includes its VLD series vehicle mobile global positioning system tracking devices and its TR101 Tracker.
