Founder sells Cardo Systems
Co-owned by founder and chairman Dr. Abraham Glezerman and specialist Israeli tech investor Fortissimo Capital, Tel Aviv headquartered Cardo Systems is now under new ownership, having been acquired by London, UK based EMK Capital.
Widely regarded as a pioneer and global market leader in wireless communication systems, the terms of the transaction have not been disclosed, but this was no 'Firesale' - in less than 20 years Cardo has become a hugely successful business, both in financial and product terms.
As Cardo CEO Alon Lumbroso stated: "Over the past few years, Cardo has evolved into a successful, high-growth, profitable company serving the wider wireless communications market for groups and individuals in motion. Today Cardo is the clear technology leader in its field, with a global presence."
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| Cardo founder Dr Abraham Glezerman: "Leading Cardo's evolution from an idea to a leading global brand was a unique experience." |
Cardo designs and markets wireless mesh communication systems for motorcycle riders, skiers, site workers and other groups and individuals. "The company's innovative products backed by proprietary, cutting-edge technology allows groups to communicate wirelessly with one another and connect safely to hands-free services," explains Glezerman.
"Cardo is a premium brand that addresses a global enthusiast market, and its products are sold in over 80 countries. We are headquartered in Israel, but have operations in the Americas, Europe and Asia and employ over 100 people worldwide."
Glezerman founded Cardo in 2003. A year later, the newly formed company was the first to introduce personal Bluetooth-based communicators to the motorcycle industry, adding a completely new product category to the accessory market. To date, the company sold over six million communication devices worldwide.
"Leading Cardo's evolution from an idea to a leading global brand was a unique experience," said Glezerman. "Its success could only have come about thanks to the ever-inspiring dialogue with millions of customers worldwide and due to the creativity, dedication and professionalism of the immensely talented people who work at Cardo and who have contributed to the company's growth throughout the years.
"Once these core company assets met and merged with the entrepreneurial whirlwind of Fortissimo Capital, there was no stopping us, and this is further demonstrated by Cardo now becoming a proud member of the EMK Capital family of companies."
In other news, Cardo's PackTalk was recently named as the Official Communications device of the American Flat Track Racing series for 2021.
