RESTON, Va.—Wireless Matrix Corp. stepped into the breach to purchase the intellectual property and customer contracts of bankrupt MobileAria for about $11 million, a day after @Road Inc. announced it would terminate its week-old agreement to make the same purchase.
MobileAria, substantially owned by Delphi Automotive Systems L.L.C., had developed in-vehicle wireless broadband access devices. Wireless Matrix provides wireless data solutions for mobile and remote asset operations, particularly service fleet operations.
@Road cited difficulties with Mobile Aria’s contract with Verizon Services Corp. as the reason it terminated its acquisition of the company. Verizon is the bankrupt firm’s largest customer and the key to MobileAria’s attractiveness to @Road, the company said. @Road had offered $11.4 million for MobileAria.
Wireless Matrix did not specifically cite the Verizon contract in its acquisition announcement, but said the purchase would provide three distinct benefits. First, MobileAria offers a proven applications platform for enterprise customers and an applications team. Second, the deal provides a strategic relationship with Verizon Communications Inc., which has 10,000 subscribers with MobileAria. And, third, MobileAria’s high-speed wireless broadband device, tested on Verizon Wireless’ and Sprint Nextel Corp.’s networks, provides business access to desktop and Web applications.
