Concentrax Announces Intent to Acquire Tech Firm

HOUSTON, May 9 -- Concentrax, Inc. a provider of satellite vehicle tracking systems, today announced its intention to acquire Houston-based Internet firm Pangea Design in a proposed agreement that would enhance its ability to deliver more customized technology solutions.

Mark Gifford, president and chief executive officer of Concentrax, said that both companies have signed a letter of intent to initiate the process of a merger. Pangea offers a full range of capabilities that includes software development, interactive design, and high speed network consulting.

Gifford explained that Pangea's broad expertise would enable Concentrax to provide more technology-based services, as well as expand its network with Pangea's fiber optic facility. This new network would allow his customers to track more than 10 million vehicles each second.

"As a customer demands change, we have a responsibility to change with them," Gifford said. "That means not only keeping up with the market, but also staying ahead of it -- and always being prepared to meet and exceed the highest expectations.

"This agreement will allow us to do exactly that. By handling the software development function internally -- rather than using third-party suppliers -- we can design specialized customer-specific products faster and more cost-effectively than ever."

Gifford added that since Pangea will continue to offer its core development services, the proposed merger would also provide Concentrax with a new ongoing revenue stream.

Jeremy Wessels, president of Pangea, agreed the two companies were a good match on a number of levels.

"We have always been focused on staying ahead of the technology curve, and making sure our customers have exactly what they need for successful Internet strategies," he explained. "We don't believe in a 'one-size-fits-all' approach, and neither does Concentrax.

"Not only that, but we have a development staff second to none and a state-of-the-art fiber optic network facility. It all adds up to a win-win relationship for everyone -- and especially for the customers we'll be serving."

About Concentrax

Concentrax, located in Houston, Texas, is a provider of vehicle-monitoring services and technologies. The company's signature product, Track-Down, provides accurate, reliable, real-time data on asset use and location, and has applications for commercial trucking; rental vehicles/equipment; military; delivery; law enforcement; aviation and air cargo; corporate fleets, and emergency, health care and rescue vehicles.

About Pangea Design

Pangea Design, located in Houston, Texas, was established in 1996 as a web site design firm, but quickly expanded its capabilities to include client server software development, wireless applications and in-house hosting services. For further information, visit the website at http://www.pangeadesign.com .