Terion Inc., Plano, Texas, has completed its reorganization with the help of an extra $10.8 million in funding.
Terion has restructured its business to focus on the FleetView trailer-tracking product. Its successful restructuring efforts included funding from existing and new investors. Investors include SCP Private Equity Partners II LP, HVFM-II LP in which Harris Corporation is the major investor, Crossbow Ventures, and ING Capital LLC.
FleetView supplies fleet management information through the Internet from its patented innovative hardware and software design. The design integrates GPS and cellular technology for comprehensive coverage throughout the United States and Canada. The system is concealed to provide a covert installation. It communicates real-time trailer location and event status when the trailer is tethered to or untethered from a tractor, including an accurate determination of loading and unloading events with FleetView's Cargo Sensor. The system uniquely supports over-the-air software downloads for device settings and software upgrades.
Terion filed for Chapter 11 bankruptcy protection in January of this year. In July, the company sold off its driver communications solution originally called Mobile Messenger to Global 2-Way of Marcos Island, Fla. Prior to the bankruptcy filing, Terion had expressed its intention to concentrate on trailer tracking technology. It emerged from bankruptcy at the end of August with the completion of its reorganization.
Terion has restructured its business to focus on the FleetView trailer-tracking product. Its successful restructuring efforts included funding from existing and new investors. Investors include SCP Private Equity Partners II LP, HVFM-II LP in which Harris Corporation is the major investor, Crossbow Ventures, and ING Capital LLC.
FleetView supplies fleet management information through the Internet from its patented innovative hardware and software design. The design integrates GPS and cellular technology for comprehensive coverage throughout the United States and Canada. The system is concealed to provide a covert installation. It communicates real-time trailer location and event status when the trailer is tethered to or untethered from a tractor, including an accurate determination of loading and unloading events with FleetView's Cargo Sensor. The system uniquely supports over-the-air software downloads for device settings and software upgrades.
Terion filed for Chapter 11 bankruptcy protection in January of this year. In July, the company sold off its driver communications solution originally called Mobile Messenger to Global 2-Way of Marcos Island, Fla. Prior to the bankruptcy filing, Terion had expressed its intention to concentrate on trailer tracking technology. It emerged from bankruptcy at the end of August with the completion of its reorganization.
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