Monday, July 18, 2011

CalAmp Sells Patents

Oxnard-based CalAmp Corp. has sold off a number of patents relating to the repossession of automobiles, according to buyer ProconGPS. Financial details of the deal were not announced. ProconGPS said it has acquired patents covering repossession of automobiles in the vehicle finance industry from CalAmp, relating to the use of Global Positioning Satellite (GPS) technology in tracking vehicles, to make it easier to confiscate and repossess those vehicles in a loan default.