SAN FRANCISCO, Aug. 6, 2015 /PRNewswire/ -- B. Riley & Co., LLC, a leading full service independent investment bank and a wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), served as the exclusive financial advisor to ITR Group, Inc. in connection with the sale of two of its subsidiaries, ITR Mobility, a mobile consulting and software development firm, and iFactr, a mobile platform, to Zebra Technologies Corporation (NASDAQ: ZBRA). The terms of the transaction, which closed on July 31, 2015, were not disclosed.
The sale of ITR Mobility and iFactr expand Zebra's ability to provide unique and cost-effective migration capabilities from legacy mobility applications to modern operating systems and devices.
"The deep enterprise software and mobility expertise of B. Riley's San Francisco team was critical to this successful and complex transaction," said Todd Montpetit, CEO of ITR Group. "B. Riley helped craft the strategic impact of ITR Mobility and iFactr on Zebra's business, which was instrumental in moving the deal to a conclusion and driving value."
B. Riley initiated, structured and negotiated the transaction on behalf of ITR Group. The deal team was led by Managing Director Jim Moore, Vice President Rob Henley, and Analyst Austin Lilly.
"This marks our first transaction since J. Moore Partners joined B. Riley back in May 2015," added Jim Moore, managing director of B. Riley & Co. "It also marks Zebra's first deal since their multi-billion dollar acquisition of Motorola Solutions' Enterprise Business last year. B. Riley's deep expertise in enterprise mobility, asset tracking and the Internet of Things, combined with our strategic relationships with software vendors, OEMs, integration providers proved instrumental in identifying the right players for this compelling combination."
About B. Riley & Co.
B. Riley & Co., LLC is a leading investment bank which provides corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, and merger and acquisitions advisory services. The firm is nationally recognized for its highly ranked proprietary equity research. B. Riley & Co., LLC is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.
B. Riley Financial, Inc. (NASDAQ: RILY) provides collaborative financial services and solutions through several subsidiaries, including: B. Riley & Co. LLC, a leading investment bank and FINRA broker dealer which provides corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients; Great American Group, LLC, a leading provider of advisory and valuation services, asset disposition and auction solutions, and commercial lending services; B. Riley Capital Management, LLC, an SEC registered Investment Advisor, which includes B. Riley Asset Management, a provider of investment products to institutional and high net worth investors, and B. Riley Wealth Management (formally MK Capital Advisors), a
multi-family office practice and wealth management firm focused on the needs of ultra-high net worth individuals and families; and Great American Capital Partners, a provider of senior secured loans and second lien secured loan facilities to middle market public and private U.S. companies. B. Riley Financial, Inc. is headquartered in Los Angeles with offices in major financial markets throughout the United States and Europe. For more information on B. Riley Financial, Inc., please visit www.brileyfin.com.
About ITR Group
As one of Minneapolis/St. Paul's longest-standing IT consulting firms, ITR Group provides strategic staffing services to regional, national and international organizations spanning a variety of industries, including retail, finance, healthcare, distribution and transportation. Focus areas include enterprise project management, app development including .NET and Java, systems and application architecture, business intelligence and analysis, data and DBA services, and QA testing. For more info, visit www.ITRGroup.com.
About Zebra Technologies
Zebra Technologies is a global leader in enterprise asset intelligence, designing and marketing specialty printers, mobile computing, data capture, radio frequency identification products and real-time locating systems. Incorporated in 1969, the company has over 7,000 employees worldwide and provides visibility into valued assets, transactions and people. For more information, visit www.zebra.com.
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