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Route Dynamics Announces Acquisition of SeRo Systems; Changes Name to Nexteon Technologies, Inc.
Wednesday, March 24, 2021
SeRo adds secure aircraft tracking technology that accelerates the company's capabilities and global presence. New name reflects the company's evolution into a developer of best-in-class air navigation technologies.
AMBLER, Pa., Mar. 16, 2021 /PRNewswire-PRWeb/ -- Route Dynamics Corp, a leader in advanced aviation technologies, announced that it has changed its name to Nexteon Technologies, Inc. -- a name that better reflects the company's commitment to modernizing air navigation and enabling more efficient, greener and more secure global aviation.
In addition, on February 26, Nexteon agreed to acquire SeRo Systems GmbH through its newly formed Nexteon Europe subsidiary. The terms were not disclosed, and the transaction is expected to close before the end of the year.
Based in Kaiserslautern, Germany, SeRo Systems develops technologies that collect, store, process, analyze and visualize Automatic Dependent Surveillance-Broadcast (ADS-B) and secondary surveillance radar (SSR)-based tracking information. With customers including EUROCONTROL, SeRo's ADS-B/SSR solutions enhance the security of international air traffic control systems and accelerate the adoption of next-generation air traffic surveillance technologies. Upon completion of the transaction, Dr. Matthias Schäfer, SeRo's Managing Director, will join Nexteon's executive leadership team as SecureTrack's Chief Technology Officer.
"Over the last three years, we have been developing proprietary technologies that address the world's aviation challenges and prepare them for what comes next," said Rob Kaimowitz, Chief Executive Officer of Nexteon. "With the SeRo acquisition and launch of our Nexteon brand, we are uniquely positioned to deliver state-of-the-art, rapidly deployable and cost-effective solutions that empower modernized aviation. SeRo is a strategic addition whose tracking and analyzing technology is integral to our groundbreaking SecureTrack(TM) air surveillance data solution. By combining our best-in-class talent and technologies, we will offer air navigation service providers (ANSPs) the most cybersecure, precise and reliable air surveillance data available."
"We are very excited to join the Nexteon team," Dr. Schäfer added. "By working together, we will bring our technology to the next level to help maximize the security of air traffic control and foster rapid adoption of innovative air surveillance technologies."
About Nexteon Technologies
Nexteon Technologies is modernizing global aviation with best-in-class talent and technologies. Its innovative SecureTrack(TM) surveillance and SmartRoutes(TM) dynamic route optimization solutions enable more efficient, greener and more secure global aviation for ANSPs, commercial and general aviation fleets, and government agencies. The company was founded in 2017 as Route Dynamics Corp and changed its name to Nexteon in 2021. For more information, visit http://www.nexteon.aero.
Disclaimer
Route Dynamics Corp ("The Company") changed its name to Nexteon Technologies, Inc. on March 9, 2021. This press release is for information purposes only and does not constitute an offer to make any investment or a solicitation of offers to make any investment. Any offers to make an investment or solicitation of offers to make an investment will be made only pursuant to definitive agreements and other documents that may be subsequently provided to you, and you are advised to read any such agreements and documents carefully and in their entirety when they become available because they will contain important information relating to any investment opportunity. You are not entitled to rely upon any advice or opinions contained in this presentation with respect to the tax, financial and/or legal structuring of the transactions described herein. Accordingly, in evaluating the investment, you should obtain and rely upon the advice of your own independent tax, financial and legal advisors.
Media Contact
Media Relations, Nexteon Technologies, 908-824-3267, media@nexteon.aero
LinkedIn
SOURCE Nexteon Technologies
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