Minorplanet Systems, part owned by GE Capital Fleet Services, has entered into an alliance with ITIS to combine traffic and travel information systems with satellite vehicle tracking technology - creating a new product capable of instantly locating stolen cars. The partnership hopes to have a product installed in company cars before the start of the summer, retailing for around £400.
Minorplanet will receive £1 million from ITIS for use of the technology over the next two years in addition to the royalties on the services sold. The agreement has an initial period of three years and the alliance provides ITIS with exclusive rights to use the newly developed Minorplanet 'databox'. GE Capital Fleet Services will distribute ITIS' security services to the fleet sector.