Coventry-based SureTrack Monitoring operates a GSM-based asset tracking service using its own monitoring platform. The core customer base is the owners of construction vehicles and plant but it can also be used by farmers and caravan owners. The business was formed in 2002. SureTrack joined Plus-quoted on 2 July 2007 at an introduction price of 3p a share. Prior to the flotation SureTrack raised £300,000 at 1p a share. IBP was acquired in March 2009 for £1.7m in shares at 1.75p each. SureTrack joined Aim on 3 August 2010. The share price closed on Plus-quoted at 0.8p on the previous day. SureTrack raised £1.42m gross, or £1.16m after costs, from a placing at 0.6p a share. At the placing price SureTrack was valued at £3.96m.