H.I.G. Growth Partners News
LocationSmart and Locaid Announce Merger
Merger will lead to enhanced location services for enterprise mobility, delivered by the world’s largest Location-as-a-Service platform
CARLSBAD, CA, AND BOCA RATON, FL - February 26, 2015 - LocationSmart®, the leading provider of cloud-based location and interactivity services, and Locaid®, the world’s largest Location-as-a-Service platform for enterprise location, have merged to create the world’s premier enterprise mobility platform for cloud-based location services.
The merger agreement was unanimously approved by the Boards of Directors of LocationSmart and Locaid, and stockholders of both companies approved the merger on February 19, 2015. The combined company will operate under the LocationSmart brand. In conjunction with the merger, LocationSmart secured equity and debt financing led by Intersouth Partners and Hamilton Lane (Florida Growth Fund) to integrate operations and accelerate growth initiatives. Mario Proietti, will continue as CEO of LocationSmart and Locaid’s founder and CEO, Rip Gerber, will serve on the company's board of directors and as a strategic advisor.
Mr. Proietti stated, "We are excited that we could join together the two preeminent enterprise location platforms in the industry to better serve our collective customers. Working together will enable us to deliver a richer and more robust set of location services that translate into better solutions for our clients. The innovations delivered through our award-winning platforms will continue to lead the market in meeting their needs to locate mobile consumers, workers and assets anywhere, anytime and on any network.”
Mr. Gerber added: "This unification of our location platforms is compelling. By joining forces, we provide a broader set of location enabling solutions to our enterprise customers, and serve as a more strategic service delivery channel for our wireless carrier partners. This strategic combination makes us very formidable in every part of the mobile location-enabled world. I am delighted that we were able to join the businesses together."
This combination creates a worldwide cloud location platform with a customer base of over two hundred of the largest brands and most innovative companies locating millions of end users to enhance their services and business operations. The merger establishes a stronger platform for future innovation within the mobile location industry providing significant benefits to all constituencies, including:
- Enhanced and trusted, global location awareness of customers, workers and assets
- Unified access to a multitude of device location sources with the largest reach in the industry
- Reliable and highly scalable enterprise-grade location services available in the cloud
- Fully-managed and carrier-approved privacy controls compliant with industry best practices
- Advancements in international device roaming solutions
The LocationSmart and Locaid platforms are employed by the Fortune 500 and other leading companies for mission-critical applications in a number of industries including service assistance, proximity marketing, workforce management, emergency alerting, mobile gaming and transaction verification. Through the integration of the two companies and their platforms, customers will be able to access, through a single unified web services interface, the most robust and comprehensive portfolio of cloud-based location services in the world.
Through our merger with Locaid, LocationSmart serves as the worldwide Cloud Location Services market leader for connected devices. We provide the easiest and most comprehensive cross-carrier platform for local, hyper-local and context-aware application development. Our core location services span indoor and outdoor use across devices, platforms and carrier networks. Serving Fortune 500 customers and innovative start-ups alike, LocationSmart is changing the ways companies do business. We deliver the broadest reach and largest global footprint, with an extensive portfolio of privacy consent methods for easy end user adoption.