Briefs: Cybit buys OxLoc; Autonomy secures $10m contract
Cybit Holdings, provider of telematics products and services for the management and control of land and sea based assets, has bought the assets of OxLoc Ltd, an Oxford based supplier of battery-powered tracking units for HGV trailers, plant and mobile assets, for an undisclosed ‘nominal' payment in cash.
OxLoc was founded by Isis Innovation Ltd, the technology transfer company of the University of Oxford and has been operating since December 2000.
Cybit will integrate OxLoc products into their current product range and will continue to run and expand the service that is already installed with customers and partners such as BT, Balfour Beatty and the Stiller Group. This integration process will be simplified as Cybit has already incorporated the OxLoc product into its AssetLocator platform and have a number of customers using the solution for non-powered assets.
Cybit CEO Richard Horsman said: "The current challenging economic climate is making it increasingly difficult for smaller businesses like OxLoc to achieve critical mass. As the UK market leading telematics provider with a proven track record as a consolidator, Cybit is well placed to exploit the technology with our broad product range and extensive market reach."
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Brady plc (BRY.L), a leading supplier of trading and risk management solutions for metals and commodities, said Italian-based Prysmian Spa, one of the world's largest cable manufacturers, selected Brady to support the organisation's European risk management operations.
Prysmian is a Category 5 London Metal Exchange member. Brady's solution will be used to manage Prysmian's LME and other hedging requirements for copper, aluminium and lead.
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Autonomy Corporation plc, a global leader in infrastructure software for the enterprise, said a major international broadcaster has placed a multi-million dollar order for Autonomy solutions. The agreement has an expected value in excess of $10m over the next year.
