BD Innovations Merging with floLIVE to Form New Telecommunication Partnership
The announcement comes just a few months after floLIVE completed a $21.5 million funding round
BD Innovations, which develops a software business support system for communication and infrastructure companies, announced on Wednesday a merger with floLIVE, which develops a cloud-based IoT connectivity service. The new partnership was completed in a stock-for-stock deal and the new merged company will be named floLIVE.
The announcement comes just a few months after floLIVE completed a $21.5 million funding round. The round was led by 83North with participation from Dell Technologies Capital, Saban Ventures, and Qualcomm Ventures LLC.
"The round wouldn't have happened had it not been for the merger," CEO and co-founder of BD Innovations Daniel Goldberg told Calcalist. "The brand that will remain after the merger is that of floLIVE, with BD Innovations will effectively become its R&D department and Israeli branch."
Goldberg added that the merged company will have 90 employees working from Bnei Brak near Tel Aviv, London, Sofia, Hong Kong and Dallas. The company's management will continue to operate from the U.K., with the R&D center to remain in Israel.
The CEO of the new merged company will be Nir Shalom, who was appointed as FloLIVE CEO in February of this year. Prior to joining floLIVE, Shalom served as general manager of AT&T Israel.
