Aether Systems Inc., Owings Mills, Md., agreed to sell its Transportation Division to an affiliate of Platinum Equity

for $25 million in cash. Completion of the sale is subject to customary closing conditions, including the approval of Aether's stockholders.
Platinum Equity, Los Angeles, Calif., is a privately held firm specializing in the merger, acquisition and operation of services and solutions companies. Since its founding in 1995, Platinum Equity has acquired more than 40 businesses and built a portfolio of 19 companies with more than 32,000 employees, more than 600,000 customer sites and annual revenues of $5.5 billion.
According to Aether VP Mike Brown, the acquisition by Platinum Equity will have no immediate impact on Aether customers. Aether trucking offerings include MobileMax, a full-featured, dual-mode mobile communications system, as well as TrailerMax and GeoLogic, asset and trailer tracking products. The company also provides operational software that can be used with its own and other systems.
Brown said that Platinum acquisitions operate independently from one another. Typically, Platinum provides management expertise and investment to bring acquired companies to their performance potential.
Aether entered trucking markets with the purchase of MobileMax from Motient, formerly American Mobile Satellite, in 2000, just as the U.S. economy began a sharp slide into recession. Later Aether acquired assets from @Track, which was better known by its previous name, HighwayMaster. That acquisition included the HighwayMaster analog celluar mobile communications system as well as a trailer tracking product.
At its height, Aether shares sold for almost $350 on the NASDAQ. Aether’s stock on Thursday opened $3.18 a share.
For more information, visit www.aethersystems.com.