INDIANAPOLIS, March 12, 2020 – HKW, a middlemarket private equity firm focused on growth-oriented companies, today announced its portfolio company, Xirgo® Technologies, LLC (“Xirgo”), has acquired assets and technology of Palo Alto-based Owlcam. Financial terms of the transaction were not disclosed.
“We are excited about adding Owlcam’s technology to the Xirgo product portfolio and the immediate impact it’s going to bring to our enterprise customer base,” said Shawn Aleman, CEO of Xirgo. “Delivering AI camera technology with our existing vehicle telematics products was already part of Xirgo’s short-term road-map and strategic vision. The addition of Owlcam technology has allowed …Read More
In June 2019, Near Earth LLC announced that Xirgo® Technologies, LLC an affiliate of its client HKW, entered into a definitive agreement to acquire Baltic Car Equipment (“BCE”), and its subsidiaries. Based in Kaunas, Lithuania, BCE provides a wide range of telematics devices for vehicles and other applications. In addition, it operates a SaaS based telematics application platform in local markets. BCE has over 90 employees and offers its products and services in over 90 countries. BCE will begin operating under the brand, Xirgo Global. http://www.xirgoglobal.com
Shawn Aleman, CEO of Xirgo® Technologies, LLC stated, “This acquisition is …Read More