America News: SkyBitz launches JV to sell GLS technology in Mexico

America News:  SkyBitz launches JV to sell GLS technology in Mexico

SkyBitz has received regulatory approval to sell its patented SkyBitz Global Locating System (GLS) technology to logistics and transportation companies throughout Mexico.

As part of a joint venture with Mexico City-based Grupo Pegaso, the companies will launch SkyBitz de Mexico to support fleets based in the country.

Grupo Pegaso will oversee sales and marketing efforts; product research and development will continue to be directed from SkyBitz's HQ in the US.

The new venture opens the door for further expansion throughout Latin America.

According to Grupo Pegaso's chairman Alejandro Burillo Azcarraga, the launch of SkyBitz de Mexico will provide a much needed satellite-based tracking system that will provide increased security and efficiencies when fleets transport goods across the country and into the US.

“Providing our service in Mexico is an important step in our strategic plan to dominate the asset tracking market in North America,” said SkyBitz CEO Rick Burtner. “Mexico is the third leg in our North American coverage, rounding out the US and Canada.”

SkyBitz's expansion into Mexico follows the company's recent announcement that it has closed a Series D funding round for $10 million and is using the funds in part to accelerate business growth in its existing core trucking market and to expand into new markets and applications.


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