BlockMate Ventures recently announced the successful completion of the sale and transfer of their midpoint business to a large European conglomerate. The terms of the transaction remain undisclosed.
The sale of BlockMate’s midpoint business presents a major milestone for the company in terms of its international expansion. It also marks the first major sale for the firm, following its founding just two years ago.
BlockMate Ventures is a company specializing in the development of mobile applications and software solutions, catering to both enterprises and consumers. Founded in 2017, the Berlin-based startup has since become known for its creative use of emerging technologies to solve complex business problems and create new revenue streams.
The company’s midpoint business specialises in providing location-based services and solutions, enabling businesses to meet the demands of a more mobile workplace. The technology is powered by their innovative Location-as-a-Service (LaaS) platform which provides advanced geofencing and analytics capabilities.
As the business continues to grow, BlockMate Ventures aims to capitalise on its success by leveraging its cutting-edge solutions and services in new industries. Through this sale, BlockMate Ventures has stepped into the global market, allowing the company to reach new regions and markets.
The acquisition forms a major building block in BlockMate Ventures’ plans as the company looks to expand its presence and expertise into new markets. With the additional funds and resources, BlockMate Ventures seeks to develop new technologies and solutions that will enable businesses to make more informed decisions and stay ahead of the competition.
The sale of this business is a strategic move that further strengthens BlockMate’s position as a leader in the mobile application and software development space. The acquired funds and resources will help the company in its pursuit of further international expansion and additional product development, allowing the company to continue to provide cutting-edge solutions to its customers.