ProconGPS, a l provider of mobile resource management solutions has declared that they have acquired the patents which govern the recovery of automobiles in the vehicle finance industry from CalAmp.
This includes the systems and techniques that apply GPS technology, information systems and cellular networks for monitoring loan status for a vehicle’s default condition, which would allow tracking to help the confiscation and repossession procedures for finance companies and dealers.
According to Brian Boling, who is the CEO of ProconGPS, the company would continue to add to its portfolio, solutions for fleet management, vehicle finance and overall asset tracking. He added that they felt the requirement to include these patents to their current intellectual property specifically in the financial service sector,in order to improvise the repossession procedure, which their customers use daily. Their customers would also gain considerable advantages with regard to costs and efficiency by using their risk mitigation services. Procon provides GPS tracking solutions and is a rapidly growing automotive tracking company in the U.S. commercializing their products under several brand names. Procon has a well-integrated network of call centres, web tracking platforms, commercial tracking platforms customer service systems and telephony solutions to provide cost-effective, innovative GPS tracking solutions to customer.
Source: http://www.procongps.com