News
Motive Companies has reached an agreement to acquire GXC, a provider of private cellular network solutions for enterprises.
By: Brad Randall, Broadband Communities
A new acquisition agreement has a provider of renewable energy and infrastructure solutions seeking to acquire a provider of private cellular network solutions.
The agreement, announced Nov. 7, will see Motive Companies attempting to acquire GXC. The agreement was detailed in a release published by Motive Companies.
“Many of us on the leadership team, myself included, have been personally invested in GXC since its early days, witnessing firsthand its growth and innovation,” said Bob Istwan, the CEO of Motive. “Their solutions align naturally with ours, enhancing the services we provide to our customers.”
According to Istwan, the acquisition will strengthen Motive’s ability to meet the rapidly evolving demands of industry, especially with material handling and logistics.
Istwan said the acquisition would allow Motive to offer “a dependable, efficient private 5G platform that supports advanced business applications.”
As a company, Motive has a portfolio that includes energy storage and management, solar photovoltaic, lithium-ion batteries, electric vehicle and forklift charging, energy credits, as well as wireless, broadband, and 5G, a summary of the company stated.
Motive’s announcement said the acquisition would allow them to expand into new markets.
The CEO of GXC, Allen Proithis, said GXC has worked closely with the Motive team for a number of years.
“This acquisition makes perfect sense for our customers, partners, employees, and investors,” he said. “We are deeply gratified that Motive has elected to purchase our company and support our mission to emerge as the leading provider of reliable, secure and cost-effective private 5G services for the industrial sector.”
Terms of the acquisition were not disclosed, according to Motive’s announcement.
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