Fathom to be spun out to VC investors with RX Networks' sale
Discovery Capital Management Corp has confirmed an earlier report of the sale of Rx Networks Inc to China's Beijing BDStar Navigation Co Ltd. Discovery clarified that the pending sale, valued at $31 million, involves the Vancouver company's Location.io division, a provider of location assistance solutions. Prior to the close, another business, Fathom Systems Inc, a specialist in beacon and Bluetooth indoor positioning technologies, will be spun out of Rx Networks to its existing investors. The latter include British Columbia Discovery Fund, Discovery's venture capital fund, and Telus Ventures. Fathom's technology was recently commercially launched.
30 March 2017•4 mins read
