8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                      The Securities Exchange Act of 1934



                                  April 2, 2009
                                -----------------
                                (Date of Report)

                           ALANCO TECHNOLOGIES, INC.
                           -------------------------
             (Exact name of Registrant as specified in its charter)


                                    0-9437
                                   ---------
                             (Commission File No.)

                    ARIZONA                        86-0220694
        -----------------------------    ---------------------------------
        (State of other jurisdiction)    (IRS Employer Identification No.)



             15575 N 83RD WAY, SUITE 3, SCOTTSDALE, ARIZONA  85260
            --------------------------------------------------------
            (Address of Principal Executive Office)       (Zip Code)


                                 (480) 607-1010
              ----------------------------------------------------
              (Registrant's telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):

(  ) Written communication pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

(  ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act
     (17 CFR 240.14a-12)

(  ) Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

(  ) Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

Item 1.01.  Entry into a Material Definitive Agreement

On April 2, 2009, Alanco Technologies, Inc. issued a press release
announcing that its subsidiary, Alanco/TSI PRISM, Inc., entered into an
international distribution, licensing and manufacturing agreement.  A copy of
the press release is attached hereto as Exhibit 99.1, and is hereby incorporated
by reference in this Item 1.01.

Item 9.01

Exhibit 99.1   Press release from Alanco Technologies, Inc., dated
               April 2, 2009, titled "Alanco/TSI PRISM and G4S Justice
               Services Inc. Announce International Distribution Agreement,
               U.S. Manufacturing/Marketing Cooperation"

                                   SIGNATURES

Date: April 2, 2009                    By: /s/John A Carlson
                                           -----------------------
                                           Chief Financial Officer

EX-99.1

EXHIBIT 99.1


FOR IMMEDIATE RELEASE

CONTACTS:     Corporate Contact:            Investor Relations
              John Carlson                  Harriet Fried
              Exec VP & CFO                 Lippert/Heilshorn & Associates
              480-505-4869                  212-838-3777

                 Alanco/TSI PRISM and G4S Justice Services Inc.
                 Announce International Distribution Agreement,
                    U.S. Manufacturing/Marketing Cooperation
        -------------------------------------------------------------------
              Alliance with World's Leading International Security
                    Solutions Company to Accelerate TSI PRISM
                          RFID Tracking Market Adoption


(Scottsdale, AZ - April 2, 2009) - Alanco Technologies, Inc., NASDAQ: ALAN)
today announced that its Alanco/TSI PRISM (TSI) subsidiary, the world's leading
developer of in-facility RFID monitoring systems, has entered into international
distribution, licensing and manufacturing agreements with G4S Justice Services
Inc. (G4S).  Under terms of the international distribution agreement, G4S has
been granted exclusive distribution and licensing rights for the TSI system
outside the continental U.S. Within the continental U.S., G4S will participate
with TSI on certain major new market opportunities where the combined businesses
can add value to the customer.  G4S will also manufacture the RF transmitter
bracelets worn by the offenders/detainees within prison and detention facilities
utilizing TSI's RFID monitoring system. The agreements further provide for
initial licensing fees and payments to TSI during the Company's current fiscal
fourth quarter period beginning April 1, 2009.

G4S Justice Services Inc. CEO, Blake Beach, commented, "We are very excited
about our new business relationship with Alanco/TSI PRISM and the benefits that
each company can derive from it.  Systems that monitor movement within
correctional facilities promote transparency and accountability, which is
critical in this era of increased focus on improving performance and reducing
litigation.  TSI's RFID monitoring solution solves many problems for corrections
administrators, ranging from basic activities such as accurate prison counts to
more complex requirements such as identifying gang and radicalization activity."

Alanco Chairman and CEO, Bob Kauffman, added, "This G4S alliance adds a
significant new dimension to both our international and domestic business.
G4S's extensive global footprint, with operations in 110 countries, will enhance
TSI PRISM international market opportunities to an extent only possible through
the marketing capabilities of a dominant world-wide security industry leader.
Domestically, G4S's extensive relationships and strong reputation in the U.S.
criminal justice market will help accelerate the adoption of TSI PRISM RFID
tracking in certain U.S. market opportunities which have been historically
difficult to penetrate.  Also, our new manufacturing cooperation with G4S should
result in significant transmitter cost reductions, technology enhancements, and
improved quality through G4S's ISO 9001:2008 accredited manufacturing
facilities."

TSI PRISM RFID inmate tracking systems are currently installed in ten U.S.
prisons and jails with an additional facility in Canberra, Australia under
construction.  In addition, TSI was selected as subcontractor to leading systems
integrator, Northrop Grumman, to provide RFID monitoring systems to the
Department of Homeland Security for up to 19 immigration detention sites across
the nation.

G4S is the world's leading international security solutions group, which
specializes in outsourced business processes in sectors where security and
safety risks are considered a strategic threat.  Listed on the London Stock
Exchange, G4S 2008 consolidated revenues were approximately 8 Billion USD. The
Company has in excess of 585,000 employees with operations in over 110
countries.  For more information on G4S, visit www.g4s.com.

Alanco Technologies, Inc. provides wireless tracking and asset management
solutions through its StarTrak Systems and Alanco/TSI PRISM subsidiaries.
StarTrak Systems is the dominant provider of tracking, monitoring and control
services to the refrigerated or "Reefer" segment of the  transportation
marketplace, enabling customers to increase efficiency and reduce costs of the
refrigerated supply chain.  Alanco/TSI PRISM is the leading provider of RFID
real-time tracking technologies for the corrections industry.  Its systems
track and record the location and movement of inmates and officers, enhancing
safety, security and productivity.  For more information, visit the company's
website at www.alanco.com.

EXCEPT FOR HISTORICAL INFORMATION, THE STATEMENTS CONTAINED IN THIS PRESS
RELEASE ARE FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR
PROVISIONS OF THE PRIVATE  SECURITIES  LITIGATION REFORM ACT OF 1995. ALL SUCH
FORWARD-LOOKING STATEMENTS ARE SUBJECT TO, AND ARE QUALIFIED BY, RISKS AND
UNCERTAINTIES  THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE
EXPRESSED OR IMPLIED BY THOSE  STATEMENTS.  THESE  RISKS AND  UNCERTAINTIES
INCLUDE, BUT ARE NOT LIMITED TO, REDUCED DEMAND FOR INFORMATION TECHNOLOGY
EQUIPMENT; COMPETITIVE PRICING AND DIFFICULTY MANAGING PRODUCT COSTS;
DEVELOPMENT OF NEW TECHNOLOGIES THAT MAKE THE COMPANY'S PRODUCTS OBSOLETE;
RAPID INDUSTRY CHANGES; FAILURE OF AN ACQUIRED BUSINESS TO FURTHER THE COMPANY'S
STRATEGIES; THE ABILITY TO MAINTAIN SATISFACTORY RELATIONSHIPS WITH LENDERS
AND REMAIN IN COMPLIANCE WITH FINANCIAL LOAN COVENANTS AND OTHER REQUIREMENTS
UNDER CURRENT BANKING AGREEMENTS; AND THE ABILITY TO SECURE AND MAINTAIN KEY
CONTRACTS AND RELATIONSHIPS.


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