Wednesday, July 26, 2017

Arrayent Acquired By Prodea Systems

Redwood City-based Arrayent, which develops Internet-of-Things software used by major appliance and other manufacturers, has been acquired by Texas-based Prodea, the companies announced this morning. Financial terms of the acquisition were not announced. Arrayent had raised more than $200M from DCM Ventures, Fortress Investment Group, Intel Capital, Mubadala Investment Company and Orix USA.