FREMONT, Calif.—Mobile resource management solutions provider @Road Inc. said it plans to acquire the assets of MobileAria Inc. under an asset sale and purchase agreement between the companies that followed an auction for MobileAria’s assets on July 6.
Terms of the agreement call for @Road to pay $11.4 million and assume certain liabilities of the company. The purchase is subject to bankruptcy court approval. If approved, the sale is expected to close this month.
The assets include MobileAria’s contract to provide mobile resource management services to Verizon Communications Inc., said the companies.
MobileAria currently is a unit of auto supplier Delphi Corp., which is undergoing a reorganization under bankruptcy protection. Last month, a bankruptcy judge approved Delphi’s plan to sell off MobileAria’s assets.
