Israel’s Cardo Systems Bought for $150 Million by EMK Capital
Cardo designs and markets its wireless mesh communication systems for motorcycle riders.
Cardo Systems, an Israeli motorcycle Bluetooth communications headset developer, has been acquired by the European private equity fund EMK Capital. According to a report in Globes the company was sold for $150 million. EMK acquired a 65% stake in the company which was held by the Israeli private equity firm Fortissimo Capital as well a 30% stake held by Cardo’s founder Dr. Abraham Glezerman.
Abraham Glezman will make $45 million for his share in the company. The remaining 5% of Cardo Systems will be purchased from company executives for $7.5 million.
Founded in 2004, Cardo Systems, Ltd., is headquartered in Ra’anna, Israel and calls itself the world’s acknowledged market leader in Bluetooth and DMC – Dynamic Mesh Communication and entertainment systems for motorcycle riders. The company has pioneered the development of innovations such as a long-range intercom in 2011, Mesh communications in 2015 and Natural Voice Operation in 2017.
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Cardo designs and markets its wireless mesh communication systems for motorcycle riders, skiers, site workers, and other groups and individuals in motion. The company’s products are backed by proprietary, cutting-edge technology, allowing groups to communicate wirelessly with one another and connect safely to hands free services (e.g. mobile phone, music streaming, radio and GPS).
Cardo sells its products to avid motorcyclists in over 85 countries. Cardo also develops Bluetooth and DMC solutions for a select group of leading manufacturers in the field of motorcycle accessories, such as SHOEI, HJC and Ducati.
“Leading Cardo’s evolution from an idea to a leading global brand was a unique experience,” said Dr. Abraham 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, and this is further demonstrated by Cardo now becoming a proud member of the EMK Capital family of companies.”
EMK Capital says that it focuses on investments in businesses where it can support growth and change. It works together with companies to generate ideas on how to take a business forward and act as a catalyst for delivering change. EMK typically makes majority investments over periods of three to seven years in the business services, consumer and industrials sectors.