It's been an active few months for Montvale, N.J.-based Geotek Industries, Inc., a $50 million firm that aims to be a major international player in the information superhighway. In November 1993, well-known investor George Soros grabbed a little under 10% of Geotek's shares in return for a $40 million cash infusion and a strategic overseas alliance. Then, a few days later, Geotek signed a marketing agreement with Vanguard Cellular Systems Inc., which can acquire up to 20% of Geotek through a series of stock options. Finally, in February, Geotek signed a letter of intent with Mitsubishi consumer electronics America, Inc., the 100% owned subsidiary of Mitsubishi Electric Corp. The two parties agreed to form a broad strategic alliance for joint marketing, research and development and engineering. Significantly, the deal calls for Mitsubishi to potentially help Geotek market its technology in Asia's booming information technology market. Mitsubishi also will manufacture Geotek's wireless mobile communication systems at the Japanese firm's state-of-the-art production facility in Braselton, GA. A similar design and manufacturing agreement was struck in early March by Sony Corp. and Qualcomm Inc., a San Diego-based digital communications technology firm, when the two companies set up a joint venture 49% owned by Sony and backed with a total of $52 million.

Surfacing for the first time since he left Chase Manhattan was Mark Lerner, who worked with Geotek on the deal. Lerner's two year old firm, Morgen, Evan & Associates, specialized in US/Japan business transactions. Lerner calls the deal "hot news! It's a big deal and ever expanding." The investment banker notes however, that several financial details "need to be ironed out." These not-so-fine points will be discussed in Tokyo next month, when Geotek, Mitsubishi and he plan to meet.

Negotiations for this strategic alliance began last August and were announced in February. "By Japanese standards, this was a very quick transaction," says Lerner, who introduced himself to Geotek president and CEO Yaron Eitan last April.

"I believe I was introduced to Mark on a cold call after he read an article about us in the Wall Street Journal," says Eitan. "Normally, we don't take such calls, but Mark managed to get through." Eitan adds that Lerner has done a "terrific job."

Among the points still up for discussion are whether Mitsubishi will take an equity stake in Geotek. "We would like them to do so as a sign of the commitment," says Eitan. So far, Mitsubishi's investment is

limited to funds for manufacturing "tens of thousands" of Geotek's units and engineering support.

Before linking up with Mitsubishi, Eitan says Lerner introduced his firm to several other possible Japanese partners but the decision was ultimately made to go with Mitsubishi. Eitan, an Israeli who has never visited Japan, says he was "Very impressed with the efficiency of the Japanese consensus style of negotiations."

The next step is to link up with a Japanese partner for increased market penetration in Europe. Several Japanese firms have expressed interest in such a move, says Geotek's Eitan. Count on Lerner, who plans to open a Tokyo office early this summer, to try to get a piece of this action, too.

Meanwhile, the Soros link is already paying off at Geotek. In early February, Geotek and Soros agreed to jointly acquire a 30% stake for $24 million in Mexico's Radio Cel S.A. de C.V., which has a license to provide wireless communication in major Mexican metros. Look for more international acquisitions and joint ventures involving Geotek as the firm seeks to expand its technical expertise and global each. Wall Street seems to approve of the strategy. The company's stock price has nearly tripled over the past year.