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OnAsset Intelligence Secures New Funding to Accelerate its Growth

Dépèche transmise le 28 avril 2011 par Business Wire

OnAsset Intelligence Secures New Funding to Accelerate its Growth

OnAsset Intelligence Secures New Funding to Accelerate its Growth

IRVING, Texas--(BUSINESS WIRE)--OnAsset Intelligence, Inc., a leading provider of machine-to-machine (M2M) wireless asset tracking, sensing, and control solutions, today announced that it has secured funding from Main Street Capital Corporation (“Main Street”) and an investment entity controlled by Roy W. Haley (“Haley”), to accelerate its growth and expand its sales, marketing and manufacturing capabilities. OnAsset also announced that Curtis L. Hartman (“Hartman”), Managing Director of Main Street, Haley, and Chuck Robison, CPA and principal of Robison & Company are joining OnAsset's Board of Directors.

“This is an exciting time to be involved with advanced, global supply chain solutions and new technologies that help safeguard critical or high value shipments.”

OnAsset’s award-winning SENTRY family of wireless telemetry devices tracks and monitors transported assets on the ground, in the air, or across oceans. OnAsset’s patented FlightSafe technology is the first and only M2M tracking device certified for use by commercial airfreight providers. As a result, OnAsset is working with many of the world’s largest airlines, shipping and transportation companies to provide M2M-based monitoring technology that secures the delivery of consumer electronics, medical & pharmaceutical products, food, equipment, jewelry, and other high-valued items that are transported on a daily basis.

Adam Crossno, President and CEO of OnAsset commented: “We are particularly pleased to have Roy joining our board. He possesses exceptional experience in building public companies through a combination of innovative growth programs and acquisitions.” Haley added: “This is an exciting time to be involved with advanced, global supply chain solutions and new technologies that help safeguard critical or high value shipments.”

Hartman added: “We’re also excited about our partnership with OnAsset and are pleased to leverage our knowledge in both the public and private sectors to help them achieve their growth objectives.”

“We feel as though we’re in the right place at the right time – offering patented and award winning technology to large and profitable companies that see the value and the ROI that our solutions provide,” said Crossno. “Since 2006, we’ve worked diligently to bring our technology to this point, and the funding we’ve secured will enable us to ramp up our sales, marketing and manufacturing capabilities, to meet the growing demand for our solutions.”

Main Street Capital Corporation is a principal investment firm that partners with management teams to provide comprehensive long-term debt and equity capital solutions to growth companies. Main Street’s Hartman, who has worked for several Main Street investment entities, PricewaterhouseCoopers, and Deloitte & Touche, now brings his considerable consulting and institutional financing experience to OnAsset’s Board of Directors.

Roy W. Haley is a private investor in Orlando, FL. His retirement from a long tenured role as Chairman of WESCO International, Inc. will be effective in May of this year. He continues to serve as a member of the Board of Directors of United Stationers Corporation, and as a Board of Trustees member for Carnegie Mellon University. In addition, he recently completed multiple terms of service as a Director of the Federal Reserve Bank of Cleveland.

About OnAsset Intelligence:

OnAsset Intelligence Inc. is a leading provider of wireless devices and software solutions focused on helping customers wirelessly locate, track, connect, and manage fixed and mobile assets in real-time. The company’s M2M products and services include SENTRY™ wireless hardware with its flagship product line FlightSafe™ for air cargo tracking and ContainerSafe™ for shipping container security, its web-based Vision Platform™ and global wireless connectivity services. The company is headquartered in Irving, Texas. For additional information on OnAsset’s SENTRY, FlightSafe, ContainerSafe, and Vision products,please visit http://www.onasset.com/.

Business Wire

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