Company type | Private |
---|---|
Industry | Machine to Machine |
Founded | 2006 |
Defunct | 2014 |
Headquarters | , United States |
Area served | North America, South America, Europe |
Number of employees | 120 |
Website | www |
RacoWireless was a provider of wireless products and services focusing on the machine to machine (M2M) industry. The company delivered wireless data and provided a platform for companies to build and support wireless M2M applications.
In November 2014, RacoWireless was acquired by a private equity backed, competing M2M MVNO KORE Wireless Group. [1]
RacoWireless was initially formed as a subsidiary of RACO Industries LLC in Cincinnati, Ohio. The parent organization RACO Industries was founded in 1988 by current CEO Rob Adams as a value-added reseller of barcoding hardware and data-collection services. The company also partnered with network carriers to provide vehicle-tracking solutions.
In 2005, the company shifted its focus towards data aggregation and began building a data aggregation platform. The following year, the company was approached by T-Mobile with the concept of becoming a data aggregator in the M2M space, and RacoWireless was officially founded in 2006. [2]
RacoWireless developed its Omega Management Suite as a web-based platform to provide customers with an M2M device management and monitoring system. The company worked with T-Mobile and their M2M solutions team, which was led by national director of M2M John Horn. [3] In 2011, RacoWireless announced that Horn had left T-Mobile to become President of RacoWireless. [4] As part of the move, RacoWireless signed a deal to become T-Mobile's preferred partner for new M2M business and operational support. [5]
In 2011, RacoWireless and T-Mobile partnered with Audi to offer Audi Connect – an in-car service that allows users access to news, weather, and fuel prices while turning the vehicle into a secure mobile Wi-Fi hotspot allowing passengers access to the Internet. [6]
RacoWireless formed partnerships with other international mobile network carriers including EE in the UK, [7] Rogers in Canada, [8] Sprint, [9] and Telefonica out of Spain and Latin America. [10]
In October 2012, Inverness Graham Investments, a private equity firm out of Philadelphia, announced a controlled recapitalization of RacoWireless. [11] In July 2013, RacoWireless announced the acquisition of Position Logic, a provider of B2B location-based services with operations in North America, South America, Europe, Africa and the Middle East. [12]
In November 2014, RacoWireless was acquired by a private equity backed, competing M2M MVNO KORE Wireless Group. [13]
RacoWireless provided products and services for the machine-to-machine (M2M) world. It offered the Omega Management Suite, an information tool providing web-based M2M management, reporting, and alerting features; SIM activation, maintenance, and management; web-based billing solutions; consulting, carrier device certification, application hosting, and virtual LAN solutions.
RacoWireless serviced fleet management, asset tracking, healthcare, monitoring and control, and point-of-sale transaction processing. The Company has operations in 60 countries and employs 100 people in the US and Latin America.
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