Vancouver-based Current Technology Corp. announced Thursday its intention to acquire and distribute GPS tracking technology.

Current Technology entered into a non-binding letter of intent to purchase 51 per cent of Celevoke Inc., a distributor of Liberty, Tex.-based LunarEYE Inc.’s GPS tracking platform. The company said it’s turning the global distributor rights of the GPS technology over to New York-based MSGI Security Solutions Inc.

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Robert Kramer, chairman and CEO of Current Technology said in a news release that the partnership with MSGI will help jump start its expansion into the asset tracking business. More details concerning the acquisition and partnership, he said, will be released upon close of the transaction.

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