Harris Williams Advises Xirgo Technologies, LLC on its Pending Sale to Sensata Technologies, Inc.
Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Xirgo Technologies, LLC (Xirgo), a portfolio company of HKW, on its pending sale to Sensata Technologies, Inc. (NYSE:ST; Sensata). Xirgo is a leading provider of innovative, full-featured, application-specific wireless IoT communication devices for tracking, monitoring, and protecting remote assets and workers across an array of end markets. The transaction is being led by Giles Tucker, Eric Logue, Chris Toussaint and Nick Kron of the Harris Williams Industrials Group and Andy Leed of the firm’s Technology Group.
“Xirgo is a pioneer of wireless telematics and asset tracking devices for the IoT growth sector, and is recognized throughout the industry for its innovative solutions and extensive software and engineering capabilities,” said Giles Tucker, a managing director at Harris Williams. “Xirgo’s advanced asset tracking and telematics communication solutions, combined with Sensata’s leading sensor portfolio, offer a compelling platform in the rapidly evolving smart and connected IoT ecosystem. It was a pleasure working with the Xirgo and HKW teams on this transaction and we are excited to have found a partner that shares in management’s strategic vision for the business.”
“This transaction highlights the interest from corporate buyers in sectors such as industrial connectivity and data analytics, which offer significant growth potential and are early in the adoption curve,” added Eric Logue, a managing director at Harris Williams. “Xirgo represents another marquee transaction for Harris Williams in the industrial technology sector, and we are thrilled to have advised the company and HKW.”
Xirgo is a leading global provider of innovative, full-featured, customizable wireless IoT communication devices and software solutions. An expansive product line facilitates best-in-class solutions for an array of end markets and applications. With comprehensive in-house engineering and software capabilities in all key development disciplines, Xirgo consistently delivers compelling solutions to companies searching for ways to become more competitive, improve operational efficiencies and unlock new revenue streams. In conjunction with its partners, Xirgo has provided competitive solutions in the realm of telematics, fleet management, heavy equipment, asset tracking, usage-based driving, high-risk vehicle finance, cold chain and rental applications.
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