Cardo Techniques announced that EMK Funds has acquired Cardo Devices from Fortissimo Funds and Dr. Abraham Glezerman, its founder and chairman. Fiscal information of the transaction ended up not disclosed.
Cardo types and markets wireless mesh conversation devices for motorcycle riders, skiers, web page employees and other groups and individuals in motion. The company’s impressive solutions backed by proprietary, reducing-edge know-how permits teams to converse wirelessly with one another and join safely to hands cost-free expert services (e.g. cellular cellular phone, music streaming, radio and GPS). Cardo is a premium model that addresses a world-wide fanatic sector, and its solutions are bought in over 80 nations around the world. Headquartered in Israel, with functions in the Americas, Europe and Asia, Cardo employs in excess of 100 people today all over the world.
Dr. Abraham Glezerman started Cardo in 2003. A 12 months later on, the freshly fashioned company was the first to introduce personal Bluetooth-based communicators to the motorcycle business, including a totally new solution classification to this accessory current market. To day, the firm marketed in excess of 6 million communication units globe-wide.
“The sale of Cardo to EMK signifies a sizeable milestone in the Company’s history of achievements,” claimed CEO Alon Lumbroso. “Over the earlier handful of a long time, Cardo has evolved into a effective, superior-progress, worthwhile business serving the broader wireless communications sector for groups and people in movement. These days Cardo is the clear technological innovation leader in its subject, with a international existence.”
“The last four several years have been an epic ride, fueled by a world course administration team, cutting-edge product innovation, and exceptional teamwork,” said Yuval Cohen, handling lover at Fortissimo Funds. “We experienced the privilege of partnering with Dr. Abraham Glezerman who founded a amazing business created on Israeli innovation and creativity. We noticed an chance to leverage Cardo’s quality manufacturer and superior solution supplying to accelerate its expansion around the globe and into new goods. Since our financial commitment, the business has quadrupled in revenues and doubled in headcount. We thank Alon Lumbroso, who took the wheel at Cardo two years in the past, and the whole administration staff for using with us on this great journey.”
“Leading Cardo’s evolution from an notion to a foremost global brand was a special experience,” explained founder and chairman, Abraham Glezerman. “Its success could only have appear about many thanks to the ever-inspiring dialogue with tens of millions of prospects around the globe and thanks to the creative imagination, commitment and professionalism of the immensely talented people today who work at Cardo and who have contributed to the company’s progress in the course of the a long time. As soon as these main firm belongings fulfilled and merged with the entrepreneurial whirlwind of Fortissimo Money, there was no halting, and this is further more shown by Cardo now turning into a happy member of the EMK Money family of companies.”
“EMK is delighted to have acquired Cardo,” claimed EMK Funds. “We have been deeply amazed by the monitor history of innovation at Cardo, and the steady financial investment in study and growth to deliver globe-beating products. We are looking forward to functioning intently with the Cardo team to help choose the company to new heights. EMK’s eyesight is to aid major course administration groups to attain transformational growth and create globe class organizations which are leaders in their markets.”
Lincoln International and Lower price Capital served as unique fiscal advisors to Fortissimo Cash and Dr. Abraham Glezerman, and Meitar supplied lawful counsel. GCA Altium served as distinctive economic advisor to EMK Capital, and Meitar furnished lawful counsel.