OTTAWA, Canada-SiGEM Inc. announced it acquired fleet-management and communications solutions provider Auriga Communications Ltd. for about $3.2 million.
SiGEM said it now has 30 percent of the global market for fleet management systems in the “private hire” industry.
“Auriga’s experienced management and proven operations will also provide the infrastructure for SiGEM to quickly grow its telematics business in Europe,” said Herb Woods, SiGEM’s president and chief executive officer. “By combining the two companies, we will have a significant advantage for all kinds of vehicle-tracking and management applications.”
United Kingdom-based Auriga has 72 employees and about 17,000 mobile data terminals installed in 180 systems.
SiGEM’s stock was up 3.68 percent to $1.32 a share on the Toronto Stock Exchange Thursday morning.
In other SiGEM news, the company’s antennas are being used during the training phase of the Lauberhorn 2001, a World Cup downhill ski race in Switzerland. The antennas will be worn by skiers to test their position and velocity through video and global positioning system information.
“We chose SiGEM’s antenna because of its compact size and excellent quality,” said Jan Skaloud of the Swiss Federal Institute of Technology. “SiGEM’s antennas are very small and they perform better than some very large antennas that we have tested.”
SiGEM provides global wireless location and asset tracking.
