Monday, November 8, 2010
Enfora Acquired By Novatel Wireless
Richardson-based Enfora, a maker of machine-to-machine (M2M) communications products, has been acquired by wireless equipment provider Novatel Wireless. According to Novatel Wireless, which is based in San Diego, California, it is paying $64.5M in cash plus up to $6M in earnout for Enfora. Novatel said the buy would diversify its customer base and product lines into additional markets. Novatel said that Enfora's revenues for the 12 months ended September 30, 2010 were $61.3M. Enfora was founded in 1999, and is headed by Mark Weinzerl. The company has previously received funding from Kodiak Ventures, Adams Street Partners, and other private investors.