M&A Deal Summary

Argo AI Acquires Princeton Lightwave

On November 8, 2017, Argo AI acquired technology hardware company Princeton Lightwave from First Analysis

Acquisition Highlights
  • This is Argo AI’s 1st transaction in the Technology Hardware sector.
  • This is Argo AI’s 1st transaction in the United States.
  • This is Argo AI’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2017-11-08
Target Princeton Lightwave
Sector Technology Hardware
Buyer(s) Argo AI
Sellers(s) First Analysis
Deal Type Add-on Acquisition

Target

Princeton Lightwave

Cranbury, New Jersey, United States
Princeton Lightwave is a supplier of products based on Geiger-mode LiDAR technology, which is based on the detection and processing of single photons digitally, precisely, and in real-time. These products are made possible by our single-photon detectors that operate at near-infrared/shortwave-infrared wavelengths. We own the intellectual property for near-infrared Geiger-mode detectors and are the only company that produces these products.

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Buyer(S) 1

Buyer

Argo AI

Pittsburgh, Pennsylvania, United States
Category Company
Sector Internet Software and Services
DESCRIPTION

Argo AI is an artificial intelligence company focused self-driving vehicles and technology. Argo AI has engineering hubs in Pittsburgh, Southeastern Michigan and the Bay Area of California.

DEAL STATS #
Overall 1 of 1
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1

Seller(S) 1

SELLER

First Analysis

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 1981
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

First Analysis is a financial advisory and investment firm. First Analysis' private equity arm targets investments in growth companies at all stages of development. The Group looks for opportunities based primarily in the US and can commit up to $10 million of equity per transaction. Sectors of particular interest include outsourced services, (business/government services, education, environmental services, healthcare services, marketing services); information technology, (business integration, call centers, healthcare IT, network security, open source, sensor systems, transaction processing); and chemistry enabled businesses (advanced materials, chemicals, healthcare products, polymers, purification). First Analysis was formed in 1981 and is based in Chicago, Illinois.

DEAL STATS #
Overall 59 of 71
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 43 of 51
State (New Jersey) 7 of 7
Country (United States) 59 of 70
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-23 Blue Medora

Grand Rapids, Michigan, United States

Blue Medora software extends the major cloud management, APM, and IT operational analytics platforms by bringing in critical health, performance, and relationship data on the underlying computing storage, and network infrastructure. Blue Medora’s products enable IT operations and DevOps teams to work collaboratively and proactively to avoid downtime, resolve performance problems, and make better decisions using more comprehensive analytics. Blue Medora believes true visibility into business-critical applications is only achieved when enterprise technology teams communicate without barriers. Blue Medora was founded in 2007 and is based in Grand Rapids, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-25 Waggl

Sausalito, California, United States

Waggl is an employee feedback solution that crowdsources employee comments and ideas in real-time. Waggl’s software platform boosts human connection and enables informed decision-making, rapid alignment, and immediate action. Waggl delivers actionable insights to leaders, ensures that employee voices are heard, and encourages employee engagement through meaningful inclusion and participation in a transparent dialogue. Waggl was founded in 2014 and is based in Sausalito, California.

Buy -
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