CALGARY, Alberta and LOS ANGELES, Feb. 13 /CNW/ -- BlackLine GPS Inc.
("BlackLine"), a leading global positioning service company, announced today
that a private equity group led by Cody Slater and Clark Swanson, agreed on
terms and conditions to complete a strategic, undisclosed investment to
acquire a minority stake in BlackLine.
Mr. Cody Slater and Mr. Clark Swanson join BlackLine's board of directors
as Chairman of the Board and Director, respectively. Mr. Slater participates
as a key non-executive officer of BlackLine GPS in their ongoing operations.
In addition to joining the board, Mr. Swanson, based in Los Angeles, CA will
also provide business development assistance to BlackLine, leveraging his
business experience within the global marketplace.
"Cody brings a wealth of business and manufacturing expertise to our
company. As one of Canada's widely recognized entrepreneurs, he built BW
Technologies ("BW") from a start-up to one of the world's leading gas
detection companies. Cody provides incredible value to BlackLine and we're
thrilled to welcome Cody and his team to the company," says Mr. Brendon Cook,
BlackLine's Co-Founder and Executive Vice President.
BlackLine is also pleased to announce that it has attracted additional
talent to the company, filling out its executive team. "Mr. Neil Campbell
joins us as Vice President Sales and offers considerable experience in the
tech and commercial sector having spearheaded the creation of BW's
international distribution channel. Mr. Kirk Wankel has accepted the role of
Chief Financial Officer and shares a successful history with BW, having served
as their Vice President Finance. Completing our senior team is Mr. Barry
Moore, Vice President Product Development. Barry's experience with BW as Vice
President Product Development will be instrumental in executing BlackLine's
device strategy," says Mr. Patrick Rousseau, BlackLine's Co-Founder and
President. "We look forward to their contributions as we continue building
our brand and competing successfully in the global marketplace."
BlackLine's position in the market has attracted a group of notable high
net-worth investors including two members of the Fortune list of the 500
wealthiest people. One of those, the King family, is widely known for their
success in the television industry stemming from the family-owned business,
Kingworld CBS, previously Kingworld Productions. The second includes Mr.
Daryl Katz who founded The Katz Group, one of North America's most successful
drug store operators. Among other ventures, Mr. Katz is well-known for his
pursuit and pending acquisition of the National Hockey League's Edmonton
"Brendon and Patrick made this investment very easy for our group," said
Mr. Slater. "They have achieved enormous gains in their business over a short
period of time and on a well-managed budget. BlackLine is well positioned
with a management team who possesses vision and quality of execution, and the
capital required to fuel incredible growth. I'm extraordinarily excited about
BlackLine's future, as are our investors."
About BlackLine GPS Inc.
Based in Calgary, AB, BlackLine GPS Inc. engineers exceptional customer
experiences that couple GPS and wireless technology. BlackLine works
diligently to lead the market in location-based awareness and tracking by
providing high-value, practical, and easy-to-use products and services.
BlackLine markets products under the brands of GPS Snitch, Loner GPS, and
Blip. BlackLine owns end-to-end solutions that encompass dedicated wireless
devices, smartphone application software, back-office server infrastructure,
billing systems, and convenient user interfaces.
For more information, visit http://www.blacklinegps.com.
(C) Copyright 2008 BlackLine GPS Inc. All rights reserved. BlackLine
GPS is a trademark of BlackLine GPS Inc. All other brands, product names,
company names, trademarks and service marks are the properties of their
For further information:
For further information: Brendon Cook, Executive Vice President &
Co-Founder of BlackLine GPS Inc., +1-403-471-3676, email@example.com Web