Mercato Partners' Traverse Fund Portfolio Company Cradlepoint Acquired for $1.1B

SALT LAKE CITY, Sept. 18, 2020 /PRNewswire/ -- Today, Ericsson, a global leader in Information and Communication Technology (ICT), announced its acquisition of Cradlepoint, a Mercato Partners Traverse Fund III portfolio company for $1.1B.
Mercato Partners' Traverse Fund Portfolio Company Cradlepoint Acquired for $1.1B
This marks the second $1B-plus acquisition for a Mercato Partners Traverse Fund company and the third overall in 2020. The first came in April during the onset of the pandemic, as Salt Lake-based Galileo Financial Technologies was acquired by fintech giant SoFi for $1.2B. This announcement adds to a busy year for Mercato, which saw Utah-based Central Logic acquired by Rubicon Technology Partners in June.This transaction highlights Mercato's Traverse Fund's strategy A­of seeking rare opportunities in underserved and overlooked markets and applying stage-specific guidance to help them achieve transformative growth. Over the past 11 years, the team has found, funded, and collaborated with high-growth companies to build long-term value and enable successful exits, serving our entrepreneurs, our investors, and our communities."We offer our sincere congratulations to George Mulhern and the entire team for successfully nurturing a vision of wireless interconnectivity in the Intermountain West," said Joe Kaiser, director at Traverse Fund. "Building a world-class technology company in the shadows of the Sawtooth Mountain Range in Idaho is a tribute to their determination and reinforces our belief at Traverse that innovation is not limited by location.A  We look forward to their integration with the global telecom power, Ericsson."
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Октябрь 2020    »