Hale Global Completes Transfer of Autodesk's Location Services Business Unit
March 9th 2009
New York, NY, March 9, 2009 – Hale Global, HALE CAPITAL PARTNERS, and AUTODESK (Nasdaq: ADSK) announced completion of the transaction to transfer Autodesk's Location Services business unit to LocationLogic, a new entity owned and operated by Hale Global, Hale Capital Partners and Autodesk. Further terms of the transaction were not disclosed.
Martin Hale, CEO of Hale Capital Partners, commented, "We're excited to have the opportunity to leverage the history of this group, serve our wireless carrier customers with innovative products, and bring resources to support our talented team in building, deploying and supporting leading LBS applications in the marketplace."
Asked about Autodesk's divestiture, Carl Bass, CEO of Autodesk, stated, "We believe this move will help position the Location Services business for greater success in the wireless industry, while allowing Autodesk to focus its energies on its main line of business, which is creating software for the world's design professionals."
About Hale Global
Hale Global is a technology holding company with offices in Boston, the San Francisco Bay Area, and New York. Hale Global partners with leading companies and their management teams to invest in and manage businesses facing operational or strategic inflection points. For corporate parents of business units facing challenges, we believe no firm is faster and more reliable than Hale Global in structuring and closing mutually beneficial transactions. Hale Global has an 8-year track record of using capital and operational capabilities to grow non-core technology assets into great companies.
About Location Logic
LocationLogic, formerly Autodesk's Location Services Business, is a leading provider of infrastructure, applications, content provisioning, and integration services for deploying and maintaining innovative location-based services (LBS). The Company's business and consumer applications and platform software provide location-enabling services and tools to deploy reliable, high-performance applications that deliver personalized, location relevant information for wireless users. LocationLogic has operations in San Rafael, CA; Kansas City, Kansas; Calgary, Alberta; and Bangalore, India.