Nasdaq-listed Autodesk has completed the transfer of its location services business unit to LocationLogic, a new company owned and operated by private equity firm Hale Capital Partners,
Nasdaq-listed Autodesk has completed the transfer of its location services business unit to LocationLogic, a new company owned and operated by private equity firm Hale Capital Partners, alongside Autodesk and other minority investors.
The terms of the transaction were not disclosed.
Martin Hale, chief executive of Hale Capital Partners, says: ‘We’re excited to have the opportunity to leverage the history of this group, serve our wireless carrier customers with innovative products, and bring resources to support our talented team in building, deploying and supporting leading LBS applications in the marketplace.’
Autodesk chief executive Carl Bass adds: ‘We believe this move will help position the Location Services business for greater success in the wireless industry, while allowing Autodesk to focus its energies on its main line of business, which is creating software for the world’s design professionals.’
Based in New York, Hale Capital Partners focuses on strategic minority and control investments in public companies and their subsidiaries.
LocationLogic, formerly Autodesk’s location services business, is a provider of infrastructure, applications, content provisioning, and integration services for deploying and maintaining innovative location-based services. It has operations in San Rafael, California, Kansas City, Calgary and Bangalore.
