PROCON to Merge with DriveOK
KNOXVILLE, Tenn., and SAN DIEGO, Calif. — PROCON Inc., a leader in mobile resource management solutions, and DriveOK, a fast growing small fleet, buy-here, pay-here GPS tracking equipment and services provider, recently announced that the companies will merge.
The merger enables PROCON, which serves the auto finance industry, to acquire 100 percent of DriveOK and its affiliates.
"This newly formed company will benefit from a highly experienced management team with extensive industry knowledge in the areas of mobile resource management, telematics, wireless communications, consumer electronics and subprime finance asset risk management," officials explained.
Apparently, in 2007, PROCON set the goal to become a clear leader in subprime finance asset risk management within three years.
Brian Boling, chairman and chief executive officer of PROCON, said, "The ability to merge a very respected and successful DriveOK organization into our team in 2008 now puts the exclamation point on our progress toward that objective.
"With the addition of Mark Wells and his talented team of engineers, we have increased our technical prowess and depth that will allow us to push our solutions into may new MRM areas," Boling added.
Mark Wells, chairman and CEO of DriveOK, added, "The industry is growing up. Consolidation is inevitable in such a fast growing and vibrant market. Combining our small fleet solutions and consumer GPS tracking offerings with PROCON's already significant distribution of scale will position our new company to become a leader in the United States."