Transaction brings together leaders in traffic aggregation and GPS navigation
SAN FRANCISCO, Calif., March 3, 2009 — Catapult Advisors LLC announced today the sale of its client, TrafficGauge Inc., a leading provider of roadway traffic aggregation, to Networks In Motion, Inc. (NIM), a provider of award-winning wireless navigation solutions for today’s GPS-enabled mobile phones.
The transaction was driven by a common belief by both TrafficGauge and NIM management that traffic quality is becoming an increasingly important differentiator in the GPS navigation space. According to NIM’s CEO Doug Antone, “In bringing the TrafficGauge technology and expertise onboard, we are sending a clear message to the marketplace that NIM is willing to go the extra mile to deliver the very best product to our customers.”
Remarked TrafficGauge CEO Ryan Peterson, “We are absolutely thrilled to be joining forces with Networks In Motion, a company we have long admired. Networks In Motion has led the market in turning today’s GPS-enabled mobile phones into full-featured navigation devices. The addition of TrafficGauge will further enhance the customer experience.”
According to Peterson, “the fact that Catapult was able to generate a competitive process in an extremely challenging M&A market is testament to how hard and smart they work. Without the quality advice and innovative thinking that Catapult provided, it would have been much more difficult to complete a deal in this challenging economic environment.”
The TrafficGauge team will continue to work out of its current location in Seattle, which will become a NIM branch office.
About Catapult Advisors LLC
Catapult Advisors is an investment bank and M&A advisory firm serving the software and internet sectors. Founded in 2001, the firm provides both sell-side and buy-side representation to privately-held companies, public companies, and several of the world’s leading private equity firms. Catapult has advised and guided software and internet companies in the United States, Canada, Europe, Asia Pacific, and Israel. For more information, visithttps://www.catapultadvisors.com/.
TrafficGauge provides real-time traffic information to drivers interested in reducing stress and saving time, money and fuel. The Company aggregates and analyzes traffic data from a variety of sources, synthesizes the data into an output stream and delivers the resulting traffic information to the driver in a safe, simplified and intuitive format.
CONTACT: Ron Lissak of Catapult Advisors LLC, +1-415-593-4520
Web site: https://www.catapultadvisors.com/