WatchIt Technologies has begun negotiations with two separate companies for possible acquisition. Both companies are in the fuel savings arena.
The first company under consideration is an established company that utilizes a patented technology to significantly decrease the fuel consumption of motorized vehicles. It also has the added benefit of reducing carbon outputs into the environment.
The second company under consideration is an established GPS (Global Positioning System) business with several years of experience in both hardware and software and is currently producing revenue. According to the company, it is considered a “green technology” because it assists fleet managers in reducing fuel consumption and at the same time aids in reducing the carbon output of the vehicles by providing data that enables the managers and drivers to reduce idle time and reduction in miles driven.
“Although technically very different, there is a synergy between the two technologies,” according to Brian Riley, President of WatchIt Technologies. “Being able to remotely monitor the performance of any fuel saving technology as can be done with a GPS device will add additional credibility to the reported performance results. In the future it may also allow for the general public to watch in ‘real time’ a vehicle’s performance providing complete transparency of the process.”
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