LOS ANGELES, Dec. 18, 2015 /PRNewswire/ -- B. Riley & Co., LLC (B. Riley) 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 PrismTech Group Limited in their sale to ADLINK Technology, Inc.
The acquisition of Prismtech, an IoT software company, by ADLINK, an embedded device company, underscores an interesting dynamic in the IoT world. Hardware companies with IoT aspirations are looking to add software capabilities to differentiate their platform. They recognize that the software layer is where the coming innovation will occur in IoT. Combined, the two companies will provide their customers a one of a kind offering that will enable real-time, secure IoT applications that support cloud and fog deployments.
B. Riley's banking team consisting of Managing Directors Jim Moore and Anton (Ton) Steenman and Vice President Rob Henley utilized their industry expertise to successfully navigate the cultural and deal structuring challenges presented in bringing these cross-border companies together.
"B. Riley provided access to key C-level contacts and technologists at a variety of buyers interested in building an IoT software strategy," said Lawrence Ross, CEO of PrismTech. "Jim Moore and Ton Steenman have vast domain expertise spanning enterprise software and embedded systems. This, along with years of cross-border deal experience, allowed them to navigate a complex transaction and facilitate a great outcome for PrismTech and its future business."
For more information about B. Riley & Co. and its services, please visit www.brileyco.com.
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 clients. Investment banking services include initial and follow-on offerings, institutional private placements, and merger and acquisition 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 financial services through several subsidiaries, including: B. Riley & Co. LLC,; 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, a 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, LLC, 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 New York and San Francisco as well as Europe. For more information on B. Riley Financial, Inc., please visit www.brileyfin.com.
PrismTech's customers deliver systems for the Internet of Things, the Industrial Internet and advanced wireless communications. PrismTech supplies the software platforms, tools and professional services they need to build solutions with the required: platform coverage, performance, scalability, efficiency, flexibility and robustness. PrismTech's customers service many market sectors, including: industry, energy, healthcare, transportation, finance, aerospace and defense. For additional information about PrismTech, visit the web site at http://www.prismtech.com.
ADLINK Technology is enabling the Internet of Things (IoT) with innovative embedded computing solutions for edge devices, intelligent gateways and cloud services. ADLINK's products are application-ready for industrial automation, communications, medical, and defense, transportation, and infotainment industries. Our product range includes motherboards, blades, chassis, modules, and systems based on industry standard form factors, as well as an extensive line of test & measurement products, smart touch computers, displays and handhelds that support the global transition to always connected systems. Many products are Extreme Rugged™, supporting extended operating temperature ranges, and MIL-STD levels of shock and vibration.
ADLINK is a Premier Member of the Intel® Internet of Things Solutions Alliance and is active in several standards organizations, including the PCI Industrial Computer Manufacturers Group (PICMG), the PXI Systems Alliance (PXISA), and the Standardization Group for Embedded Technologies (SGET).
ADLINK is a global company with headquarters in Taiwan; manufacturing in Taiwan and China; R&D and integration in Taiwan, China, the US, and Germany; and an extensive network of worldwide sales and support offices. ADLINK is ISO-9001, ISO-14001, ISO-13485 and TL9000 certified.
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SOURCE B. Riley & Co.