Wednesday, March 21, 2007

InnerWireless and PanGo to Merge

Richardson;s InnerWireless Inc. and Massachusetts-based PanGo Networks Inc. will merge, the two companies revealed Tuesday. The resulting business, which will continue to operate under the InnerWireless name, combines PanGo's location services platform and asset-tracking applications software with InnerWireless' deployment capabilities and branded RF management platform, Horizon. Financial terms of the deal were not disclosed. However, PanGo's investor group will join with InnerWireless' existing investors for follow-up funding. The group will also appoint one board member to InnerWireless' eight-seat board of directors.