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Beijing BDStar Navigation to Acquire Vancouver-based Rx Networks for $31 Million (Reuters)
Thursday, March 30, 2017Company Profile | Follow Company
Vancouver, BC, March 30, 2017--(T-Net)--Reuters reported this week that Beijing BDStar Navigation has agreed to acquire Vancouver-based Rx Networks for approximately $31 million.
Rx Networks is a venture-funded technology company located in Vancouver, BC. The company's investors include, among others, Discovery Capital, TELUS Corporation and VOXX International.
The company raised approximately $5.3 million in 4 rounds and is led by Co-Founder, President and CEO Guylain Roy MacHabée.
Rx Networks Co-Founder, President and CEO Guylain Roy MacHabée.
Rx Networks is an assisted GPS technology and global services company (see more details below).
RX Network's location.io product is a comprehensive location services enabling platform providing GNSS assistance data and location services for every need.
Beijing BDStar Navigation Co., Ltd. is a Chinese company founded in 2000, and specializes in navigation and positioning services in China.
And that is pretty much all the detail we have on this acquisition. If we get more detail or an actual news release, we will update this story further.
Reuters Original Source: http://www.reuters.com/article/idUSL3N1H043E
Reuters has also provided a link for more details regarding this acquisition on a Chinese news site (with text in Chinese): bit.ly/2nV63qR
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Editor's Note: Fathom, who are listed as the company on this news release are a business unit of Rx Networks Inc.
Fathom specializes in indoor location. They enable their customers to take advantage of the ability to accurately determine presence, proximity and positioning and apply that contextual data to a number of use cases, such as: asset tracking, beacon management, location-enhanced marketing, logistics, fleet management and worker safety.
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About RX Networks
Rx Networks enables fast location-based services. Anytime. Anywhere. Even Indoors!
Their GPStream™ framework of GPS acceleration solutions uniquely reduce GPS wake-up times to mere seconds while improving GPS signal lock in challenging indoor and urban environments.
Their new XYBRID™positioning engine uniquely combines Cell-ID, WiFi signals with GPS ephemeris and coarse position aiding to yield fast and ubiquitous positioning for virtually any device.
They license their GPStream and XYBRID solutions to location service providers, semiconductor vendors and mobile device manufacturers to help them deliver a Click'n Go!™ mobile location user experience on any mobile device.
About Beijing BDStar Navigation
Beijing Bdstar Navigation is a information technology and services company based out of BEIJING.
News Credit: Reuters
http://www.reuters.com/article/idUSL3N1H043E