Sensei Solutions Equity Repurchase Management-led Buyout Sets Stage for Diversification, Growth
CHARLOTTE, N.C., June 19, 2014 /PRNewswire-iReach/ -- Sensei Solutions, a leading provider of surveillance automation and critical infrastructure monitoring solutions and Southern States LLC a Georgia based manufacturer of High Voltage equipment agreed to discontinue their partnership. Sensei Management repurchased all the company's outstanding shares held by Southern States LLC.
"This repurchase sets the stage for Sensei to diversify our efforts beyond the narrow confines of the electric utility market-space and to pursue higher-growth opportunities in such diverse fields as petrochemical, financial services and critical infrastructure monitoring, while allowing our early-stage partners the ability to apply Sensei's technology to their specialized product and service offerings on an ongoing basis." said Ashley Campbell, CEO of Sensei Solutions.
As part of the repurchase agreement, the largest outside shareholder Southern States LLC has been granted a license to incorporate certain proprietary sensor management and signal processing software and technology into its product and service offerings to the electric utility industry.
"As an early-stage investor in Sensei, we were impressed by the ease with which their technology can be used for a significant number of applications to improve electric utility operations. We are exiting the equity participation to allow Sensei to grow beyond the utility segment" said Raj Anand, CEO of Southern States LLC.
Media Contact: Robin Thompson, Sensei Solutions, 9192602257, firstname.lastname@example.org
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE Sensei Solutions