Spiridon Technologies Acquires Tantiv4 and Announces Financing to Fuel Growth
Spiridon Technologies Ltd. ("Spiridon") is pleased to announce that it has acquired Tantiv4 Inc. ("Tantiv4"), in a cash and share transaction. Tantiv4 helps build bespoke software solutions, including voice enablement, for Consumer Electronics Brands and Industrial Smart Device OEMs. Spiridon is a privately-held, Toronto-based consolidator of IoT and related technology providers.
TORONTO, May 24, 2019 /PRNewswire-PRWeb/ -- Spiridon Technologies Ltd. ("Spiridon") is pleased to announce that it has acquired Tantiv4 Inc. ("Tantiv4"), in a cash and share transaction. Tantiv4 helps build bespoke software solutions, including voice enablement, for Consumer Electronics Brands and Industrial Smart Device OEMs. Spiridon is a privately-held, Toronto-based consolidator of IoT and related technology providers.
"Tantiv4 is very happy to receive this kind of support. Spiridon's investment will help scale Tantiv4's growing customer traction while re-investing in IoT technology centered on Data, ML and Blockchain," said Lokesh Johri, co-founder and CEO of Tantiv4, "The sheer scale of M2M Data, enabled by next generation IoT presents disruptive opportunities, and Tantiv4 has taken an approach centered around the ethical use of Data along with a focus on privacy and security."
Concurrent with the closing, Tantiv4 announced that it has recently come to an agreement with a leading Japanese Consumer Electronics manufacturer. Tantiv4 is providing its voice-enabled IoT solution to enable voice commands on televisions and peripheral equipment manufactured by its OEM partner. The new agreement is expected to provide Tantiv4 with recurring annual license fees as well as additional service revenues on a recurring basis. It is anticipated that this initial deal will be expanded to additional opportunities with similar global consumer electronics companies. According to CB Insights, the voice enablement market is estimated to reach $49.4 billion within the next five years, with Amazon, Google, Apple, Microsoft, Facebook each making significant investments in startups and research & development – betting that voice is poised to become the next big platform for consumers and businesses.
As a result of all of the recent activity and new business wins, Flow Capital, a Toronto-based investor in emerging growth companies, has invested to help accelerate Tantiv4's growth and customer expansion activities. It is anticipated that Spiridon will continue to seek additional financing in the near term to further accelerate Tantiv4's growth and to expand their technology offerings. "We are excited about the opportunity to help Tantiv4 grow from its current voice-cloud IoT platform to data offerings which will help partners monetize data by providing relevant insights into media consumption in smart homes," said Shane Maine, Spiridon's Chairman. "Additionally, the Flow transaction provides us with important growth funding which will enable us to expand our capabilities."
About Tantiv4 Inc.
Tantiv4 Inc., headquartered in Milpitas, CA, is powering the next generation IoT Voice Enabled Cloud and Edge platforms. ThingaOS™ and ThingaAI™ solutions provide advanced automation using ML and Blockchain algorithms to increase ROI for companies by improving business efficiencies. ThingaOS™ operates on all popular cloud eco-systems, RF protocols and supports several controller and voice interfaces.
ThingaOS™, ThingaAI™, FetchitGO™ are trademarks of Tantiv4 Inc. All other trademarks used are the property of their respective owners.
About Spiridon Technologies Ltd.
Spiridon is a privately-held consolidator of IoT and related technology providers. The Founders of Spiridon have 50+ years of experience consolidating technology companies in North America, Europe, and Asia.
For additional information, please contact:
Kishore Moturi
Co-Founder & Chief Marketing Officer, Tantiv4
Email: contact(at)tantiv4(dot)com
Phone: +1 408 396-5962
SOURCE Tantiv4
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