Oakland, Calif. - August 15, 200 - G2 Microsystems In., a developer of integrated circuits for the Mobile Resource Management market, today announced that the UPs Strategic Enterprise Fund has made an investment as an extension to the company's Series A round. Other investors in the Series A round include Starfish Ventures and DB Capital Partners, the private equity and venture capital arm of Deutsche Asset Management (Australia) Ltd. Terms of the investment were not disclosed.
“We are excited to have UPS as an investor,” said John Gloekler, Chief Executive Officer and President of G2 Microsystems. “Their knowledge and operational experience in deploying worldwide asset tracking systems wil greatly enhance G2 Microsystems' ability to deliver superior technology to the Mobile Resource Management market.”
Mobile Resource Management is a rapidly growing market that enable businesses to track assets worldwide and monitor their environment and security. G2 Microsystems is developing a range of ultra low power, active aset tracking system-on-a-chip (SoC) solutions for Location Based Service (LBS) applications that leverage the large installed base of Wi-Fi infrastructure. The G2 Microsystems SmarTag products go beyond today's basic radio frequency identification (RFID) technology and offer intelligent tracking and sensor capabilities that can be used with the global 802.11 (Wi-Fi) network. These advanced capabilities coupled with SmarTag's low power consumption will significantly lower the cost of ownership and expand the applicatoins for LBS.
“Location Based Services is an emerging area in which UPS is interested, both as a potential user within our small package global infrastructure and as a provider of RFID solutions,” said Alan Koenning, UPS Strategic Enterprise Fund manager. “Our investment in G2 Microsystems will give us insight into further applications of tracking and sensing features which can benefit inventory management, temperature control and high-value monitoring in global distribution environment.”
About G2 Microsystems...
G2 Microsystems designs and markets low power MRM SoCs that provide ubiquitous asset tracking and telemetry solutions leveraging existing wireless 802.11 network infrastructures. Our SoCs significantly reduce the cost of ownership of deploying sophisticated LBS or asset tracking services so that businesses can more efficiently manage their mobile resources. G2 Microsystems can be contacted at 510-435-0138 or at http://www.g2microsystems.com.
About the UPS Strategic Enterprise Fund...
The UPS Strategic Enterprise Fund is the private equity strategic investment arm of UPS. THe Fund is a corporate venture capital group which focuses on developing critical partnerships and acquiring knowledge returns from its investments in information technology companies and emerging market spaces. UPS is teh world's largest package delivery company and global leader in supply chain services, offering an extensive range of options for synchronising the movement of goods, information and funds. Headquartered in Atlanta, Ga., UPS (NYSE: UPS) serves more than 200 countries and territories worldwide with information http://www.ups.com
For further media information contact:
John Gloekler, CEO
G2 Microsystems Inc
408 Euclid Avenue
Oakland, California 94610