Balmoral Funds Acquires Xirgo Applied sciences, Former Sensata Insights Enterprise Unit

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SANTA MONICA, Calif. — An affiliate of Balmoral Funds LLC has efficiently acquired and rebranded Sensata Applied sciences’ (NYSE: ST) Insights enterprise unit as Xirgo Applied sciences. This strategic transfer establishes Xirgo as an impartial chief in IoT options, primed for accelerated development and innovation.

Chris Wolfe, an IoT business veteran with intensive management expertise, together with roles as CEO of PowerFleet and President of OmniTRACS, has been appointed CEO of Xirgo Applied sciences.

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Xirgo Applied sciences is famend for its superior IoT options, together with Xirgo-branded automobile and asset telematics {hardware}, SmartWitness AI driver cameras, and Elastic M2M enterprise-class software program. These options empower telematics service suppliers and their prospects to deal with advanced real-world IoT challenges successfully.

“We’re thrilled to guide Xirgo Applied sciences into its subsequent section of development, constructing on its spectacular legacy of customer-focused innovation,” stated Chris Wolfe. “Xirgo’s dedication to creating distinctive industrial-grade IoT merchandise, coupled with their distinctive customer support, has enabled over 900 world channel companions to thrive, deploying greater than 1.6 million units per 12 months and producing tens of thousands and thousands in annual service revenues. Trying forward, we see large potential for Xirgo’s options within the quickly increasing IoT and AI video markets. With Balmoral’s help, we’re poised to considerably improve the worth proposition for our prospects, staff, distributors, and companions.”

Clay Baker, Board Member of Xirgo Applied sciences and Vice President at Balmoral, added: “As an impartial entity, Xirgo is now positioned to give attention to what it does greatest – delivering cutting-edge AI enabled IoT options. We’re dedicated to not solely serving our present buyer base with continued excellence but in addition to increasing our attain to new prospects embarking on their IoT journeys. The market can anticipate a renewed, acute give attention to innovation and customer support.”

This acquisition permits Xirgo Applied sciences to leverage its sturdy basis in IoT expertise whereas benefiting from Balmoral’s strategic steering and sources. The partnership is anticipated to drive important developments in product growth and market enlargement, notably within the burgeoning IoT and AI video sectors.

Balmoral Funds plans to take a position considerably in Xirgo Applied sciences’ operations, emphasizing analysis and growth, market presence enlargement, and sustaining and bettering the high-quality customer support that has been an indicator of Xirgo’s success.

About Balmoral

Balmoral is a Los Angeles, CA primarily based non-public fairness fund that was based in 2005. Balmoral’s goal is to be the monetary companion of selection for entrepreneurial and profitable C-suite executives and working advisors creating transformative, revitalizing change within the companies they co-invest in collectively. Balmoral has roughly $1.3 billion of property beneath administration. Balmoral usually invests in corporations which have revenues between $30 to $500 million and require fairness investments of $10 to $120 million, with the aptitude of doing extra in notably compelling alternatives.

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About Xirgo Applied sciences:

Xirgo Applied sciences delivers business main automobile and asset telematics {hardware}, software program and help options, globally. Xirgo’s deep experience in telematics, industrial high quality related units, and cutting-edge synthetic intelligence, empowers fleet operators with actionable insights that drive security, effectivity, and operational intelligence throughout industries. Xirgo serves over 900 world channel companions that provide IoT options to many corporations within the Fortune 100. Xirgo Applied sciences is predicated in Schaumburg, Il and has places of work throughout the globe. For extra info, electronic mail pr@xirgo.com or name +1 224 331 0772.