Purchase of OxLoc Limited Assets

    
  CybIT Holdings PLC
  06 August 2008
   

    Date:                      6th August 2008
    On behalf of:          Cybit Holdings Plc ("Cybit" or "the Company" or "the Group")
    Embargoed until:     0700hrs


    Cybit Holdings Plc 
    Cybit purchases assets of OxLoc Limited

    Cybit, the international provider of telematics-based products and services for the management and control of land and sea based assets,
is pleased to announce the purchase, for a nominal cash consideration, the assets of OxLoc Limited (OxLoc) the Oxford based supplier of
battery-powered tracking units for HGV trailers, plant and mobile assets. 

    OxLoc provided asset monitoring, tracking and alerting solutions to the sector of the mobile asset management market where there is no
access or limited access to a power source, with their supply of autonomous battery-powered data collection products. The Company was
originally founded by Isis Innovation Ltd, the technology transfer company of the University of Oxford and has been operating since December
2000. 

    The purchase covers all hardware, software and intellectual property and provides Cybit with non-powered tracking devices that will
become highly integrated with Cybit's leading on-line Fleetstar-Online telematics and fleet-tracking solution. This will include built-in
RFID technology for temperature, pallet and goods-in-transit monitoring.

    Cybit will integrate OxLoc products into their current product range and will continue to run and expand the service that is already
installed with customers and partners such as BT, Balfour Beatty and the Stiller Group. This integration process will be simplified as Cybit
has already incorporated the OxLoc product into its AssetLocator platform and have a number of customers using the solution for non-powered
assets.  

    Richard Horsman, Cybit's Chief Executive commented:
    "The current challenging economic climate is making it increasingly difficult for smaller businesses like OxLoc to achieve critical
mass. As the UK market leading telematics provider with a proven track record as a consolidator, Cybit is well placed to exploit the
technology with our broad product range and extensive market reach."


    -ends-

    For further information please contact:

 Cybit Holdings Plc              Redleaf Communications       Cenkos Securities Plc
 Richard Horsman, Chief          Emma Kane/Samantha Robbins/  Stephen Keys
 Executive
 Kevin Lawrence, Finance         Rebecca Sanders-Hewett       Tel: [phone]
 Director
 Tel: [phone]         Tel: [phone]
                                 Email: [e-mail]





    Notes to Editors: 

    *     Cybit operates within three core sectors: Internet-based vehicle Telematics solutions; Economic Exclusion Zone (EEZ) Management;
and Private Mobile Radio (PMR) based asset tracking and precise positioning solutions. Its products and services enable companies to monitor
and position mobile assets, manage service level agreements, enhance employee duty of care and comply with legislation.

    *     In the vehicle Telematics sector, Cybit is one of Europe's leading Telematics Service Providers (TSPs). More than 1,700
business-to-business clients use its fleet and asset management solutions to manage in excess of 46,000 assets. Solutions include in-vehicle
technologies, workflow management and internet-based monitoring and reporting software. The Company also provides consulting services to
advise on legal issues such as duty of care and working hours.

    *     Its PMR business, Cybit Positioning Solutions, provides asset-tracking solutions for both maritime and land-based applications
including exploration and mining. Its precise positioning solutions assist in the location and exploitation of oil, gas and mineral reserves
around the globe.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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