European private equity investo Nordic Capital is to become become the majority owner of the German-based Industrial Internet of Things (IoT) company ProGlove.
In close partnership with ProGlove’s management and founders, Nordic Capital will enable the company to accelerate its future growth plans, further expand its customer base and invest in product development. The financial terms of the transaction have not been disclosed.
ProGlove is a technology specialist that provides integrated hardware and software solutions that are built around wearable barcode scanners with multiple IoT sensors allowing for hands-free data capture.
The investment in ProGlove will be made by Nordic Capital X. ProGlove’s founders and management will remain as minority owners. The transaction is subject to customary regulatory approvals.
