Combined company serves more than 16,000 customers in partnership with the world’s leading wireless carriers.
Xora and Gearworks, the two leaders in location-based mobile business applications, have joined forces. The combined company will retain the Xora name and emerges as the clear leader in the location-based mobile business application market, servicing more than 16,000 customers deployed across the world’s leading wireless carriers.
The combined company will have the broadest wireless carrier distribution footprint in the industry, including partnerships with Sprint Nextel, Verizon, AT&T, Telstra, US Cellular, Cbeyond and Procall. In addition to wireless carrier partnerships, Xora is the leading provider of location-based mobile time clock and data collection solutions for companies that offer TLM (Time and Labor Management) and Payroll services. The combined product portfolio will consist of Xora’s GPS TimeTrack suite of products and Gearworks’ Field Force Manager, etrace, OnCare and Appmosphere offerings.
The transaction puts Xora in an ideal position to continue to capitalize on the growing market for handset-based mobile resource management applications globally.
“This combination brings together two recognized leaders in the industry that share a common vision and desire to bring powerful tools to businesses that want to improve their operational efficiency,” states Sanjay Shirole, co-founder and CEO of Xora. “By measures critical to our long-term success, including growth and diversification of revenues, product portfolio, channel partnerships and customer support capabilities, this merger is a big win not only for us, but also for the customers and partners of the new combined company.”
As part of this transaction, venture investors from both companies, including Dawntreader Ventures, BlueStream Ventures, Split Rock Partners, and Rho Ventures all have made additional equity investments totaling $8.5 million dollars. In addition, Patrick Wack, former CEO and currently Chairman of Intralinks, a pioneer in the Software-as-a-Service space will join the Xora Board of Directors.
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