GE - Equipment Services has acquired the business of Terion Inc., a leading provider of two-way wireless data communication and information solutions for the transportation industry.
Terion is privately held, and terms of the transaction were not disclosed.
Equipment Services, owner and lessor of one of the world's largest fleets of trucks, over-the-road trailers, railcars and sea containers, will integrate the Terion businesses with its Asset Intelligence division. Through that division, Equipment Services offers solutions for tracking transportation assets and monitoring the condition of those assets and the shipments they carry. Equipment Services is also involved in developing "predictive maintenance" solutions for mobile assets by combining the capabilities of Asset Intelligence with its Trailer Fleet Services and Rail Services divisions.
Terion was one of the first companies to market for the un-tethered trailer tracking market. Together, Equipment Services and Terion operate more than 100,000 tracking and monitoring units on over-the-road trailers in the U.S. and Europe. Their customers for these services include Wal-Mart, the U.S. Postal Service, J.B. Hunt Transport Services, Inc. and Knight Transportation, among others.
"Our business is evolving from simply providing financing for transportation assets to providing broader solutions that help shippers and transporters make their supply chains more productive,"
said Equipment Services President and CEO Deborah Reif. "Terion's technology, people and vision complement ours beautifully, and will help us increase our current capabilities for over-the-road trailers and accelerate our development of intelligence-based services for other modes of transport."
Asset Intelligence and Terion will coordinate operations but continue to operate separately over the next several months while the two businesses develop and implement integration plans.
Terion is privately held, and terms of the transaction were not disclosed.
Equipment Services, owner and lessor of one of the world's largest fleets of trucks, over-the-road trailers, railcars and sea containers, will integrate the Terion businesses with its Asset Intelligence division. Through that division, Equipment Services offers solutions for tracking transportation assets and monitoring the condition of those assets and the shipments they carry. Equipment Services is also involved in developing "predictive maintenance" solutions for mobile assets by combining the capabilities of Asset Intelligence with its Trailer Fleet Services and Rail Services divisions.
Terion was one of the first companies to market for the un-tethered trailer tracking market. Together, Equipment Services and Terion operate more than 100,000 tracking and monitoring units on over-the-road trailers in the U.S. and Europe. Their customers for these services include Wal-Mart, the U.S. Postal Service, J.B. Hunt Transport Services, Inc. and Knight Transportation, among others.
"Our business is evolving from simply providing financing for transportation assets to providing broader solutions that help shippers and transporters make their supply chains more productive,"
said Equipment Services President and CEO Deborah Reif. "Terion's technology, people and vision complement ours beautifully, and will help us increase our current capabilities for over-the-road trailers and accelerate our development of intelligence-based services for other modes of transport."
Asset Intelligence and Terion will coordinate operations but continue to operate separately over the next several months while the two businesses develop and implement integration plans.
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