Cardo Systems has announced that EMK Capital has acquired Cardo Systems from Fortissimo Capital and Dr. Abraham Glezerman, its founder and chairman. Financial details of the transaction were not disclosed.
Cardo designs and markets wireless mesh communication systems for motorcycle riders, skiers, site workers, and other individuals in motion. The Company’s are products backed by proprietary, cutting-edge technology that allows groups to communicate wirelessly and connect safely to hands free services (e.g. mobile phone, music streaming, radio and GPS). Cardo’s products are sold in more than 80 countries.
Dr. Abraham Glezerman founded Cardo in 2003. A year later, the newly formed company was the first to introduce personal Bluetooth-based communicators to the motorcycle industry, adding a completely new product category to this accessory market. To date, the company sold over 6 million communication devices world-wide.
“The sale of Cardo to EMK signifies a significant milestone in the Company's record of achievements,” said CEO Alon Lumbroso. “Over the past few years, Cardo has evolved into a successful, high-growth, profitable company serving the wider wireless communications market for groups and individuals in motion.”
“The last four years have been an epic ride, fueled by a world class management team, cutting-edge product innovation, and outstanding teamwork,” said Yuval Cohen, managing partner at Fortissimo Capital. “We had the privilege of partnering with Dr. Abraham Glezerman who founded a fantastic business built on Israeli innovation and creativity. We saw an opportunity to leverage Cardo’s brand and product offering to accelerate its growth worldwide and into new products.”
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