Tool provider Snap-on Inc., Kenosha, Wisc., has signed an agreement to acquire certain assets of Nexiq Technologies

, Sterling Heights, Mich.
These include the Pro-Link Plus diagnostic system for heavy-duty truck, diesel and off-road vehicle diagnostics and eTechnician, Nexiq?s Web-based remote vehicle monitoring and diagnostics application.
According to Snap-on, these products generated about $12 million in Nexiq's fiscal year ended Sept. 29, 2002. The transaction, which Snap-on said involved $7 million, is expected to close prior to years end.
Until 2001, Nexiq was known as MPSI (Micro Processor Systems Inc.). The company officially launched the ambitious eTechnician system earlier this year, but filed for Chapter 11 bankruptcy protection in October. According to NEXIQ, the purpose of the filing was to expedite the sale of company operations.