Wednesday, August 22, 2007

Alanco Raises $4.8M In PIPE

Scottsdale, Arizona-based Alanco, a provider of wireless tracking and asset management products, said this morning that it has raised $4.8Min an equity financing to private investors. Investors in the firm were not disclosed. The firm said that the funding will go to repay long-term debt, along with working capital for the company's expansion. Alanco operates two businesses, StarTrak, which provides GPS tracking and asset management for the transportation industry; and Alanco/TSI PRISM, which uses RFID technology to track prison inmates.