Wednesday, June 29, 2011

Alanco Merges With YuuZoo

Scottsdale, Arizona-based Alanco Technologies, which previously provided wireless and RFID tracking systems, has merged with a social networking firm, YuuZoo Corporation, the firm said Wednesday morning. Alanco--which had essentially divested all of its operating businesses as of May--said the merger would help address the NASDAQ's concern that it "no longer has any operating business". Because of those concerns, Alanco has been facing delisting on the NASDAQ, with a hearing scheduled Thursday to determine if it should continued to be listed. Alanco sold off its last operating business, StarTrack Systems, in May.