Newly funded CRG acquires Gibraltar-backed GXMG
Los Angeles-based digital government product company Civic Resource Group (CRG) has acquired Globalive XMG Inc (GXMG), a Toronto-based developer of software-related augmented reality applications. No financial terms were released. The purchase of GXMG, which was seeded in July 2015 by Canadian venture capital firm Gibraltar Ventures, was announced along with CRG's US$3.5 million financing. ABVEN and Globalive Capital co-led the round with participation from other investors, including Canada's Gibraltar & Co, Relay Ventures, Front Street Capital and Extreme Venture Partners. CRG said the GXMG deal and funding will position the company to expand in the smart city market.
17 February 2016•4 mins read
