One of Indiana’s biggest tech success stories is being acquired. Two equity firms have acquired a majority interest in Fishers-based Internet of Things company ClearObject. The company’s headquarters will remain in Fishers and Chief Executive Officer John McDonald will continue to lead the management team. The companies are not releasing financial terms of the transaction.
ClearObject was founded in 2010 as CloudOne, and designs, develops and manages Internet of Things-driven products and platforms. The company says the acquisition will allow it to grow its customer base around the world. As part of the deal, Egis managing partners E. Perot Bissell and Bill Polk and ABS Capital general partners Phil Clough and Ralph Terkowitz will join ClearObject’s board of directors.
McDonald calls the deal "a testament to the growth and strength of the IoT space and the digital economy," adding that it allows the company to "pursue growth opportunities that allow us to serve our customers better and with the speed required of our economy today."
Mike Reffeitt, previously chief business officer, will serve as president and oversee day-to-day operations.