March 23, 2010 (FinancialWire) — Alanco Technologies, Inc. (NASDAQ: ALAN) said it has sold its data storage subsidiary, Excel Meridian Data, Inc., which is located in Carrollton, Texas.

According to Alanco, Excel Meridian was sold to a private investor in a transaction, which closed on March 19, 2010, valued at around $500,000, including cash, notes and assumed liabilities.

The company said the move is part of a plan to focus on accelerating growth of its StarTrak recurring subscription revenue business model.

Arizona-based Alanco Technologies provides wireless monitoring and asset management solutions through its StarTrak Systems subsidiary.

StarTrak Systems is a provider of tracking, monitoring and control services to the refrigerated or “Reefer” segment of the transportation marketplace.

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