On the Move Systems, Inc. (OMVS) stock moves upward after buying installer

Posted on: July 6th, 2011
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On the Move Systems, Inc. (OTCBB:OMVS) shares picked up 6.4% to $2.50 after it announced today that its wholly-owned subsidiary has purchased the assets of automotive electronics installer Crawford Mobile Install (CMI), adding new mobile electronics services to the OMVS business profile. Volume for the stock was a mere 500 shares, however.

A news release out July 6 stated that John B. Crawford, CMI’s sole proprietor, will be retained as CMIC’s director. Crawford founded the company in 2010 after 18 years managing the sales and installation of automotive electronic accessories for major retailers.

In addition to Crawford’s industry expertise, CMIC is gaining assets including cash, inventory, installation equipment and existing client relationships. OMVS will combine CMI’s assets with CMIC’s resources to provide on-site aftermarket electronics sales, installation and servicing to dealerships, government agencies and other automotive wholesale buyers and sellers.

As new advances in computerization, connectivity and entertainment continue to reshape the automotive experience, the automotive aftermarket has expanded into a $200-billion industry. OMVS is working to capitalize on that growth by commercializing new breakthroughs in automotive electronics and offering the latest innovations to both wholesalers and individual consumers.

Management at On the Move Systems was not available for comment.

Based in Sarasota, Fla., On the Move Systems is an emerging technology company currently focused on marketing advanced electronics in the automotive aftermarket that includes Goodyear Tire & Rubber Co (NYSE:GT), ExxonMobil (NYSE:XOM) and Advance Motor Parts (NYSE:AAP).

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