Nov 07, 2024, 06:07 ET
Long-time Investor Will Purchase Private Cellular Provider to Strengthen Its Portfolio and Satisfy Escalating Demand for Private 5G Connectivity
FOUNTAIN VALLEY, Calif., Nov. 7, 2024 /PRNewswire/ — Motive Companies (www.motivecompanies.com), a leading provider of renewable energy and infrastructure solutions for industrial and commercial applications, announced it has reached an agreement to acquire GXC (www.gxc.io), a highly-respected provider of private cellular network solutions for enterprises. Through this transaction, Motive will provide GXC with substantial resources to expand its customer base and deliver advanced 5G network services to a broad range of industrial customers. Terms of the acquisition were not disclosed. Continue Reading
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“Many of us on the leadership team, myself included, have been personally invested in GXC since its early days, witnessing firsthand its growth and innovation,” said Bob Istwan, CEO of Motive Companies. “Their solutions align naturally with ours, enhancing the services we provide to our customers. This acquisition strengthens our ability to meet the evolving demands of industries like material handling and logistics, offering a dependable, efficient private 5G platform that supports advanced business applications.”
Austin-based GXC is a recognized leader in private 5G networks for enterprise applications. Its patented solutions enable businesses to expand coverage, enhance resiliency and security, and lower network operating costs. The Onyx platform features proprietary interference cancellation technology, delivering the market’s only full cellular mesh solution. GXC supports a wide range of industries, including logistics, warehousing, agriculture, manufacturing, and smart cities. For large-scale warehouses, GXC’s private LTE/5G solutions provide the scalability and reliability needed to power advanced automation and seamless connectivity.
The GXC acquisition gives Motive a platform to rapidly expand into new markets that can use 5G infrastructure to meet the demand for automation and Industry 4.0 solutions. GXC’s 5G technology is proven to support these requirements from the standpoint of reliability and performance, network security, flexibility, and cost efficiency.
“GXC has worked closely with the Motive team for several years, and we know firsthand that the company is unmatched in terms of market expertise and product portfolio,” said Allen Proithis, GXC’s Chief Executive Officer. “This acquisition makes perfect sense for our customers, partners, employees, and investors. We are deeply gratified that Motive has elected to purchase our company and support our mission to emerge as the leading provider of reliable, secure and cost-effective private 5G services for the industrial sector.”
About Motive Companies, LLC
Motive Companies is a leading provider of renewable energy and infrastructure solutions for industrial and commercial applications. Our comprehensive portfolio includes energy storage & management, solar photovoltaic, lithium-ion batteries, electric vehicle & forklift charging, energy credits, as well as wireless, broadband & 5G. From design, construction, maintenance, and installation, we provide true end-to-end services that support all energy, battery, charging and telecommunication needs. With offices across North America and a workforce of 1,100 professionals, we have the geographical reach, scalability, and financial stability to meet customers’ changing needs. At our core, Motive Companies develops renewable energy and infrastructure solutions to create a more sustainable society.
About GXC
Founded in 2016, GXC is an Austin, Texas-based company that provides groundbreaking private cellular network solutions for enterprises. Through its turnkey proprietary platform, GXC Onyx, the company delivers comprehensive connectivity both indoors and out, enabling highly secure, resilient, and scalable coverage that supports critical business operations in manufacturing, logistics, transportation, agriculture, and other commercial venues. GXC is the only provider to offer private cellular mesh technology, building this capability based on years of advanced research. The company partners with leading technology providers and systems integrators to ensure that each system is professionally deployed and meets the expectations of sophisticated enterprises.
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SOURCE Motive Companies