MONTVALE, N.J.-Geotek Communications Inc., an international wireless communications company, announced it has increased its ownership interest in M.I.S. Information Systems Holdings Ltd. to 100 percent.
M.I.S. was formed in 1994 as a joint venture between Geotek and Decision Systems Israel Ltd. Geotek Technologies Inc., a wholly owned subsidiary of Geotek Communications Inc., will acquire Decision Systems Israel’s 50 percent interest for a $2 million, prime rate unsecured promissory note due July 1, 1998, issued by Geotek Communications.
Based in Givat Shmuel, Israel, M.I.S. develops wireless mobile data applications for businesses that need to manage and communicate with mobile workforces. M.I.S. develops applications for Geotek’s Frequency Hopping Multiple Access network such as automatic vehicle location, messaging, data dispatch and credit card transaction authorization.
“We believe software applications will drive the wireless data market much as they did the PC market,” said Stephen Pearse, president and chief executive officer of Geotek Technologies.
“Through the development efforts of M.I.S., Geotek will offer a series of mobile data applications that will enhance customer productivity and allow users to derive the full value of the Geotek network.”
