Press Releases

GeoTraq Press Release

Appliance Recycling Centers of America Launches Diversification Strategy and Enters Trillion Dollar Internet-of-Things (IoT) Market Through Acquisition of GeoTraqSE TITLE
Minneapolis, Minn. (September 13, 2017) — In a move to diversify the company’s offering beyond its current appliance recycling and retail capabilities, Appliance Recycling Centers of America (Nasdaq: ARCI), a leading provider of utility appliance recycling programs, announced today that it has acquired GeoTraq, a manufacturer of what is widely regarded as the world’s smallest cellular tracking module designed specifically for the Internet of Things (IoT) market.

GeoTraq manufactures a new generation of cellular tracking module specifically designed to enable low cost, long-range communication between IoT devices (endpoints) deployed worldwide. The GeoTraq Cellular Module is widely believed to be the world’s smallest cellular tracking device and the first in a new generation of cellular transceiver modules that will allow wireless device integrators to design and manufacture low cost, long range IoT products for the commercial, industrial and consumer markets. The GeoTraq acquisition allows ARCA the ability to deploy IoT devices throughout the world to locate, monitor and track the movement of inventory and other assets.

“As we have previously announced, we believe that expanding our offerings beyond our current business model will be highly valuable for shareholders, and therefore we will continue to seek such opportunities to enhance our product and service offerings,” said Tony Isaac, CEO of ARCA. "The addition of the GeoTraq technology increases our offerings as we enter the IoT market. We believe this acquisition will benefit our overall efficiency and provide GeoTraq access to a large base of new customers."

According to various publicly available sources, the estimated worldwide market for the Internet of Things (IoT) is expected to reach $1.29 trillion by 2020, with the majority spent on hardware, followed by services, software and connectivity. Further, according to these same sources, hardware spending may approach $400 billion by 2020, with modules and sensors connecting endpoints to networks likely representing the bulk of hardware purchases.

"Since the founding of GeoTraq, our mission has been to provide an alternative to the wireless technologies currently used in IoT such as Bluetooth, LoRa, ZigBee, LPWAN and NB-IOT,” said Gregg Sullivan, CEO and president of GeoTraq. “We are excited to join the ARCA team and to further enhance shareholder value through our unique and exciting product offering.”

More Geotraq news at ARCA.

Appliance Recycling Centers of America (Nasdaq: ARCI) has bought tracking device manufacturer GeoTraq. The acquisition is part of ARCA's strategy to diversify its services. Financial terms were not disclosed.

GeoTraq makes tracking modules for mobile devices that are used to monitor the movements of inventory and other assets. According to Minneapolis-based ARCA, the Internet of Things market is expected to reach $1.29 trillion by 2020 with $400 billion of that coming from hardware spending. Seattle-based GeoTraq serves the transportation, energy, healthcare and industrials sectors.

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THIS PROCESS IS FOR COPYRIGHT AND OTHER INTELLECTUAL PROPERTY MATTERS ONLY.

If you believe that your work has been copied in a way that constitutes copyright infringement, or that your intellectual property rights have been otherwise violated, please provide GeoTraq's Agent for Notice with the following information (your "Notice"):

1. an electronic or physical signature of the person authorized to act on behalf of the owner of the copyright or other intellectual property interest;

2. a description of the copyrighted work or other intellectual property that you claim has been infringed;

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6. a statement by you, made under penalty of perjury, that the above information in your Notice is accurate and that you are the copyright or intellectual property owner or authorized to act on the copyright or intellectual property owner's behalf.

GeoTraq's Agent for Notice of claims of copyright or other intellectual property infringement can be reached as follows:

By mail
GeoTraq
Attn: Gregg Sullivan
1771 E. Flamingo Rd. #208-A
Las Vegas, NV 89119

By phone
702.757.4080

By email
office@geotraq.net

Please note that, due to security concerns, attachments cannot be accepted. Accordingly, any notification of infringement submitted electronically with an attachment will not be received or processed.