Louisville-based Lightyear Network Solutions has signed a definitive merger agreement with Wherify Wireless Inc., a California company that specializes in global positions systems.
The proposed business combination of Wherify and Lightyear creates a public entity that will target the rapidly growing markets for location-based services and network service solutions.
Lightyear provides voice, data, and video telecommunications services to small- and medium-sized businesses and residential customers. The company partners with major carriers and companies, including Verizon, AT&T, and Sprint, among others.
Wherify’s proprietary Springboard location-based services platform enables mobile carriers, mobile application providers and mobile device manufacturers to develop a wide variety of location-based services applications for their products. The platform will provide the combined organization with several additional potential avenues of growth, including markets for enterprise employee mobility service management, mobile social networking, personal safety, mobile community search and mobile shopping.
Lightyear CEO Sherman Henderson will serve as chairman and CEO of the combined company, which will operate under the Lightyear name and will be headquartered in Louisville.
“Our strong distribution base and long-term partnerships combined with Wherify’s leading LBS platform and GPS technologies will allow the combined organization to introduce a variety of new products to the marketplace over the coming months and years,” said Henderson.
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