Wednesday, July 26, 2017

Prodea Systems Acquires Arrayent

Richardson, Texas-based Prodea, a provider of Internet-of-Things services for the government, healthcare, telco, and utility market, said today that it has acquired Silicon Valley startup Arrayent. Financial details of the acquisition were not announced. Arrayent develops Internet-of-Things technology which is used by major appliance manufacturers, the heating and air conditioning (HVAC) market, and many others for enabling Internet connectivity of their products. The company was venture backed by DCM Ventures, Fortress Investment Group, Intel Capital, Mubadala Investment Company and Orix USA, and had raised more than $200M in funding.