Wherify Wireless, Inc. announced today that they have signed a letter of intent to merge with Lightyear Network Solutions, a privately owned company that will merge into Wherfiy. Lightyear had revenue of $65 million for 2007. Wherify is currently working on the financing details.
Vince Sheeran, Wherify’s Chief Executive Officer, said, “Bringing together Wherify’s proprietary location based service platform with Lightyear’s established leadership in customer support, multi-channel distribution and carrier presence is an excellent fit. We believe the proposed merger of Wherify and Lightyear has the potential to unlock the unfulfilled promise that location based services have represented for the wireless industry.”
Wherify is located in San Mateo California, and develops personal location and position tracking products and technologies. Wherify was founded in 1998 and received the 2007 Consumer Electronic Show’s Award for Excellence in Innovation in Wireless Communications. The company has a permanent display at the Smithsonian Institution Museum for a Child Locator. The Child Locator is a commercial personal GPS tracking device.
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