Location-based mobile business applications providers Xora and Gearworks announced that they have joined forces, and that the combined company will retain the Xora name, servicing more than 16,000 customers deployed across wireless carriers worldwide. Xora and Gearworks says the combined company will have the broadest wireless carrier distribution footprint in the industry, including partnerships with Sprint Nextel, Verizon, AT&T, Telstra, US Cellular, Cbeyond and Procall.
In addition to wireless carrier partnerships, Xora is a provider of location-based mobile time clock and data collection solutions for companies that offer TLM (time and labor management) and payroll services. The combined product portfolio will consist of Xora’s GPS TimeTrack suite of products and Gearworks’ Field Force Manager, etrace, OnCare and Appmosphere offerings.
“This combination brings together two recognized leaders in the industry that share a common vision and desire to bring powerful tools to businesses that want to improve their operational efficiency,” says Sanjay Shirole, co-founder and chief executive officer of Xora. “By measures critical to our long-term success, including growth and diversification of revenues, product portfolio, channel partnerships and customer support capabilities, this merger is a big win not only for us, but also for the customers and partners of the new combined company.”
As part of this transaction, venture investors from both companies — including Dawntreader Ventures, BlueStream Ventures, Split Rock Partners and Rho Ventures — all have made additional equity investments totaling $8.5 million. In addition, Patrick Wack, former CEO and currently chairman of Intralinks, a Software-as-a-Service provider, will join the Xora board of directors.
