Sensewhere Limited secures significant international investment & strategic partnership with Chinese internet giant, Tencent
MBM Commercial are delighted to have assisted sensewhere Limited with its recent international investment and strategic partnership deal with Chinese internet giant, Tencent. The deal, which was completed in August 2015, will ensure that sensewhere can further develop and commercialize its indoor positioning software on a global basis with the software being used in Tencent Maps, WeChat, QQ and sensewhere being awarded preferred vendor status from Tencent for location-based advertising services throughout China.
Who are sensewhere?
The Edinburgh-based company, which was founded by university researchers in 2005, provides hyper-local and positioning services supporting location-based solutions for mobile applications. It has received undisclosed financial assistance from a variety of investors and MBM Commercial are pleased to have assisted the company with all of these deals as well as its original spin-out deal from Edinburgh University. In June 2015 sensewhere was granted key patents in the USA and China for its technology that it develops. Sensewhere’s technology provides location information in areas where there is little access to satellite GPS data, where instead, it relies on signals like Wi-Fi or Bluetooth.
More about the deal
Rob Palfreyman, CEO and Co-Founder of sensewhere, commenting on the deal, said:
“This investment by Tencent will be significant for the company and is an endorsement of our technology, strategy and ability to deliver low cost, highly scalable and highly accurate universal indoor positioning. I am thrilled with the collaboration, and having Tencent as a strategic investor will help take sensewhere to the next level and assist us growing our customer base, building new Location Based Services and investing further in R&D. Particular thanks are also due to Stuart Hendry and his team at MBM Commercial for guiding the company through the intricate issues of securing the investment from an international trade investor. They provided an extremely high level of service in a very prompt and cost effective manner throughout the transaction. We pushed them pretty hard at times, especially when taking the different time zones into account, and they did not let us down. They were very helpful and pragmatic during the negotiations. We have worked with MBM Commercial since our inception and I look forward to working with them going forward. I would be pleased to recommend them to any high growth technology company.”
Also commenting on the deal Stuart Hendry, senior partner in MBM Commercial LLP, said:
“We are delighted to have assisted sensewhere with its recent investment and partnership arrangements with Tencent. This is one of several significant deals which we have helped clients of our firm close in recent months. This is a transformational milestone for the company as part of its planned strategy of international growth and it is testament to the quality of the company’s technology and its world class team. We look forward to working with the company as it continues its exciting journey.”
For more details about sensewhere please visit www.sensewhere.com.
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