People tracker gets money, buys more technology — MobileMonday Global: Industry News

^{Leashing people to satellites} People tracker gets money, buys more technology

9 Jan 2005 at 19:22 GMT Timo Poropudas

Satellite Tracking of People LLC, STOP, has closed a new round of equity funding on December 21, 2004, and completed two simultaneous acquisitions. Specifically, STOP acquired the VeriTracks business line and the related key personnel from General Dynamics, and, through a subsidiary, 100 percent of the stock of Verquis, LLC from Strategic Technologies, Inc. The acquisitions bring together first-of-its-kind technology in the field of Global Positioning System (GPS) tracking for offenders within the criminal justice system, including patented crime scene correlation capabilities and the only one-piece GPS bracelet available in the market today. The leadership of STOP combines pioneers of the corrections industry with leading-edge GPS technology innovators. STOP’s VeriTracks system is an Oracle-based system for GPS tracking of offenders, and includes the only patented system for crime scene correlation in the world. In addition, STOP holds the exclusive U.S. rights to the world’s only one-piece active GPS tracking device (BluTag). STOP’s system uses GPS technology to constantly track the precise location of offenders and, through its exclusive patented system, link that data to the location and time of reported crime incidents (i.e. crime scene correlation). Any intersection of a tracked individual with a crime incident or zone violation is electronically “pushed” to the appropriate police and corrections agency for action. STOP’s recent equity financing was provided by JHW Greentree Capital, LP, the SBIC investment arm of J.H. Whitney & Co. Whitney has a significant amount of corrections industry knowledge, through its successful investment in U.S. Corrections Corp., as well as a successful history in technology investing. Whitney has sponsored and achieved success with several significant information technology companies including Compaq, Bay Networks, General Signal, SunGard Data Systems, and NBX Corp.