Xirgo Technologies emerges after Balmoral’s acquisition
Image by rawpixel.com on Freepik
An affiliate of Balmoral Funds LLC has acquired and rebranded Sensata Technologies‘ Insights business unit as Xirgo Technologies. Chris Wolfe has been appointed the CEO of Xirgo Technologies.
Xirgo Technologies is known for its advanced IoT solutions, including Xirgo-branded vehicle and asset telematics hardware, SmartWitness AI driver cameras and Elastic M2M enterprise-class software. These solutions empower telematics service providers and their customers to tackle complex real-world IoT challenges effectively.
“We are thrilled to lead Xirgo Technologies into its next phase of growth, building on its impressive legacy of customer-focused innovation,” said Chris Wolfe. “Xirgo’s commitment to creating exceptional industrial-grade IoT products, coupled with their exceptional customer service, has enabled over 900 global channel partners to thrive, deploying more than 1.6 million devices per year and generating tens of millions in annual service revenues. Looking ahead, we see tremendous potential for Xirgo’s solutions in the rapidly expanding IoT and AI video markets. With Balmoral’s support, we are poised to significantly enhance the value proposition for our customers, employees, vendors and partners.”
Clay Baker, the board member of Xirgo Technologies and vice president at Balmoral, said, “As an independent entity, Xirgo is now positioned to focus on what it does best – delivering cutting-edge AI enabled IoT solutions. We’re committed to not only serving our existing customer base with continued excellence but also to expanding our reach to new customers embarking on their IoT journeys. The market can expect a renewed, acute focus on innovation and customer service.”
This acquisition allows Xirgo Technologies to use its strong foundation in IoT technology while benefiting from Balmoral’s guidance and resources. The partnership is expected to drive advancements in product development and market expansion, particularly in the burgeoning IoT and AI video sectors.
Balmoral Funds plans to invest substantially in Xirgo Technologies’ operations, emphasising research and development, market presence expansion and maintaining and improving the high-quality customer service that has been a hallmark of Xirgo’s success.
Comment on this article below or via X: @IoTGN and visit our website IoT Global Network