TORONTO, July 18, 2019 (GLOBE NEWSWIRE) -- Flow Capital Corp. (TSXV: FW) announced today that it has closed a royalty investment with Spiridon Technologies Ltd. Spiridon is a privately-held consolidator of IoT and related technology providers. The founders of Spiridon have more than fifty years of experience consolidating technology companies.
Recently, Spiridon announced the acquisition of Tantiv4, a Silicon Valley-based company that builds bespoke software solutions, including voice enablement, for Consumer Electronics Brands and Industrial Smart Device OEMs. Concurrent with the acquisition, Tantiv4 announced that it had secured an agreement with a leading Japanese Consumer Electronics manufacturer. Tantiv4 is providing its voice-enabled IoT solution to enable voice commands on televisions and peripheral equipment manufactured by its OEM partner. The agreement will provide Tantiv4 with recurring annual license fees as well as additional service revenues on a recurring basis.
Proceeds from Flow Capital’s royalty investment will be used to expand Tantiv4’s product line and customer base, and fuel Spiridon’s consolidation activities.
“The IoT market is ripe for a strategy such as Spiridon’s: pairing upstream technology providers with downstream channel partners to create cutting-edge, scalable solutions,” said Robb McLarty, Chief Investment Officer of Flow Capital. “Having successfully executed the playbook in related industries, such as enterprise software, Shane Maine and team are poised to replicate their past successes in the IoT space.”
About Flow Capital
Flow Capital Corp. is a diversified alternative asset investor and advisor, specializing in providing minimally dilutive capital to emerging growth businesses. To apply for financing, visit www.flowcap.com.
For further information, please contact:
Flow Capital Corp.
Alex Baluta
Chief Executive Officer
alex@flowcap.com
1 Adelaide Street East, Suite 3002,
PO Box 171,
Toronto, Ontario M5C 2V9