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TruePosition Buys Code for Security Software (3/31/09)
TruePosition, a provider of wireless location technologies, acquired a source code license from and an approximate 20-percent interest in Profilium. The source code license is exclusive for safety and security applications and nonexclusive for other uses.
“This agreement further underscores TruePosition's commitment to the public-safety and national-security markets worldwide,” said Stephen Stuut, CEO of TruePosition. “The strategic investment allows us to leverage Profilium's sophisticated data mining software to further our lead in delivering innovative location solutions to security and government agencies around the globe.”
Headquartered in Montreal, Profilium is a provider of software systems that gather, store and process mobile-phone metadata, which can be used by businesses to analyze and monitor behavior of mobile subscribers. This information can then be used in mobile phone-based national safety and security solutions.
“TruePosition has developed an invaluable asset for security and law-enforcement officials to help identify and combat criminal activities, secure borders and critical infrastructure facilities, and save lives in search-and-rescue missions,” said Mark Kagan, research manager for Government Insights, an IDC company.
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