Menlo Park, CA – GrowthPoint advises Abalta Technologies on equity transaction with Zenrin.
GrowthPoint announced that it acted as the exclusive financial advisor to Abalta Technologies (“Abalta”) on its sale of equity to Zenrin (TSE:9474). Abalta is considered a leader in connected car solutions and has developed a revolutionary platform to enable enterprises and consumers to bridge the gap between the smartphone and the car’s infotainment system. With unrivaled expertise across automotive and mobile platforms, Abalta maintains a customer portfolio of over 60 of the most recognized brands in the world and generated YTD revenue growth of 150 % compared to 2015.
Zenrin’s acquisition validates Abalta’s strategy and enables the company to accelerate investments in their core technologies including WebLink for branded OEM user experiences, SmartLink for over the air (OTA) updates, and Eolas mapping tools for location-based services. “We value Abalta’s strong infotainment expertise, engineering capabilities, and mapping background,” says Zenshi Takayama, President of Zenrin. “We look forward to offering a broader set of services to our automotive partners as a result.”
Zenrin, a Japan-based leader in the mapping industry, is a pioneer in high-definition data products required for autonomous vehicles and geo-temporal databases needed for location-based information. “We’re excited to be working with such a thought leader, and are looking forward to combining our mapping and connected car know-how to accelerate the development of next-gen solutions for automotive,” says Michael O’Shea, Abalta’s CEO.
“Advanced technology is rapidly changing the automotive industry. Connected cars, Electric vehicles and Autonomous vehicles require significant amounts of new technologies, and the automotive industry is acquiring more of this through mergers and acquisitions with advanced technology companies. GrowthPoint has a keen understanding of what technologies buyers are seeking in this market,” said Bob Horstmeyer, Managing Director at GrowthPoint.
To read the full press release, please visit: http://www.prnewswire.com/news-releases/zenrin-invests-in-abalta-to-accelerate-growth-of-connected-car-solutions-593140021.html