JMC Capital Partners to Acquire elevate DIGITAL
- M&A Deals
- 03.02.2016 07:30 am
JMC Capital Partners through its portfolio company, CIVIQ Smartscapes, has acquired elevate DIGITAL, located in Chicago, IL. Elevate DIGITAL is a leading developer of street-level, interactive software technology that engages with people and devices within verticals that include; smart cities, IoT, hospitality, transportation, and entertainment. The elevate DIGITAL platform can be customized to the audience, municipality, attraction and also engaging the consumer through content and services.
CIVIQ Smartscapes design and deliver connected urban infrastructure technologies to cities worldwide and provide citizens with hands-on access to cutting-edge services right where they live. The acquisition of elevate DIGITAL's software platform in combination with CIVIQ Smartscapes' hardware competency is a key component to providing a turnkey solution. It will accelerate the company to transform the global smart city landscape.
"The combination of CIVIQ Smartscapes' experience and competency in smart city solutions, and elevate DIGITAL's citizen mobility experience in municipal markets will make us ideally positioned to capture the growth opportunities created by the rapidly evolving smart cities sector," said Brad Gleeson, Chief Commercial Officer, CIVIQ Smartscapes. "I'm excited to welcome elevate DIGITAL to the company as we look to create additional value both for our partners and for future projects."
George Burciaga, CEO of elevate DIGITAL added "Our objective has always been to improve the way people live by connecting devices, people, processes and data. We have been working with municipalities across the country to innovate and set the framework for the best smart city solution. We look forward to joining CIVIQ Smartscapes and accelerating its efforts in transforming future cities."
"This is a great step forward in the ability to offer a turnkey smart city solution," said Michael D'Amelio, Managing Partner of JMC Capital Partners, the private equity owner of CIVIQ Smartscapes. "The two companies have extremely complimentary technologies and resources. We look forward to seeing the benefits of this synergy in action."