OxLoc was originally founded by Isis Innovation Ltd, the technology transfer company of the University of Oxford and has been operating since December 2000. The acquisition covers all hardware, software and intellectual property, which Cybit will continue to develop.

Cybit will integrate OxLoc's trailer tracking applications into its market-leading Fleetstar Online solution to enable Cybit customers to monitor the status of goods-in-transit through interfaces that monitor a range of conditions, including temperature, and track individual consignments through RFID readers.

Commenting on the purchase Steve Jones, Director of Specialist Tracking Solutions at Cybit said: "Integrating Oxloc technology into our portfolio will allow us to offer continuity of service to OxLoc's existing customers together with the potential for both Oxloc and Cybit customers to benefit from an expanded solutions portfolio."

Cybit's Chief Executive Officer, Richard Horsman said: "As a UK market leader with a proven track record as a consolidator, Cybit is well placed to further develop the business through a combination of organic and acquisitive growth. OxLoc provides a number of complementary synergies with our Fleetstar product suite - which is proven by the fact that we have worked with OxLoc before to deliver battery powered asset tracking - and we are happy to have acquired their business assets."

OxLoc's partnerships, reseller agreements and customers will continue to receive a full service through Cybit. OxLoc partners, which include BT, Stiller Group and Balfour Beatty, will see improvements in service as they will be able to deal with a larger sales and marketing team and installed customer base to drive their partnerships forward.