ProconGPS, Inc. Acquires Vehicle Repossession IP Patents from CalAmp Corporation

KNOXVILLE, Tenn., July 18, 2011 /PRNewswire/ -- ProconGPS, Inc., a global leader in mobile resource management solutions, has announced the acquisition of the patents governing the repossession of automobiles in the Vehicle Finance Industry from CalAmp Corp. (Oxnard, CA).

The intellectual property relates to methods and systems that apply Global Positioning Satellite (GPS) technology, cellular networks, and information systems in order to monitor loan status for a default condition on a vehicle and enable tracking in order to aid the confiscation and repossession process for dealers and finance companies.

"ProconGPS, Inc. is continuing to invest in its portfolio of intellectual properties and solutions for Vehicle Finance, Fleet Management, New Auto Dealers and overall asset tracking," stated Brian Boling, CEO of ProconGPS, Inc. "As the world's largest subprime vehicle finance asset tracking company, we recognized the need to add these patents to our existing intellectual property specific to financial services and the repossession process our customers use on a daily basis. The method patents involved are all about our core deliverable; risk mitigation. As we continue to witness the significant costs and efficiency advantages our customers gain using our services, ProconGPS, Inc. is committed to continuing the growth of this exciting Vehicle Finance GPS Tracking industry."

About ProconGPS, Inc.

ProconGPS, Inc. is a leading service provider of GPS tracking solutions, and is one of the fastest growing automotive tracking companies in the USA, marketing under the brands Loan Plus, GoldStar GPS and EnfoTrace. ProconGPS, Inc.'s mission is to provide innovative, low cost GPS tracking solutions to its business customers on a one-stop-shopping basis. ProconGPS, Inc. has expertise in integrating products, content, communication networks, map databases, and service technologies. The company specializes in developing strong business relationships with leading companies worldwide enabling it to offer world-class risk mitigation and location based services to its customers. ProconGPS, Inc.'s specialized array of GPS products, call center systems, commercial tracking platforms, web tracking platforms, telephony solutions and customer service systems offer a fully integrated solution to its partners. For additional information, please visit ProconGPS, Inc.'s website at www.procongps.com.

SOURCE ProconGPS, Inc.

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