NXT-ID buys PE-backed LogicMark


NXT-ID Inc has acquired LogicMark LLC, which is backed by Promus Equity Partners and Generation 3 Capital. No financial terms were disclosed. Livingstone served as sellside adviser to LogicMark on the transaction. Louisville, Kentucky-based LogicMark is a provider of personal emergency response devices.

PRESS RELEASE

CHICAGO – July 28, 2016. Livingstone, an international mid-market M&A and debt advisory firm, is pleased to announce the sale of LogicMark, LLC (“LogicMark” or “Company”) to NXT-ID, Inc. (NASDAQ: NXTD).

LogicMark, founded in 2006, is a leading provider of personal emergency response devices (“PERS”) sold through health care, security, and direct-to-consumer channels. Based in Louisville, KY, the Company is well-regarded for offering both monitored and non-monitored products under the CareTaker Sentry, Guardian Alert, and Freedom Alert brands. Consumers rely on LogicMark’s products to communicate with first responders, caretakers, and family members in times of emergency. LogicMark was financially-backed by Promus Equity Partners and Generation 3 Capital, among others, and led by former senior executives of Honeywell’s security business.

NXT-ID, Inc. is an emerging growth- technology company focused on products, solutions, and services for security on mobile devices with core technologies consisting of those that support digital payments, biometric identification, encryption, sensors, and miniaturization. NXT-ID, Inc. plans to integrate its voice biometric technology as well as fall detection sensors and miniaturization skills to future generations of LogicMark products.

LogicMark President Kevin O’Connor said, “We are excited to become a part of NXT-ID, and leverage their technology and channel partnerships to expand our product portfolio and markets. Livingstone used its broad sector expertise to creatively position LogicMark, and bring buyers from different sectors to the table including security, healthcare, and consumer. Ultimately, NXT-ID emerged as the ideal buyer for the Company.”

Livingstone Managing Director Andrew Bozzelli commented, “The potential buyer set for LogicMark didn’t fit neatly into one specific sector box, so we needed to tailor the positioning and key investment considerations on a buyer-by-buyer basis. The successful closing was a direct result of this creative, artisanal approach.” Added Livingstone Partner, Andrew Isgrig, “this is a great example of Livingstone’s industry expertise across security products, sensor based technologies and healthcare technology sectors. We are excited for NXT-ID and our client as together, they are in an excellent position to further capitalize on an increasing market segment with excellent demographic growth drivers and technology convergence.”

LogicMark marks the 35th transaction closed year-to-date and adds to the firm’s extensive resume of transactions across our core sectors of Business Services, Consumer, Healthcare, Industrial, and Media & Technology.
Patzik, Frank & Samonty Ltd. Served as legal counsel to LogicMark, and Miller Cooper & Co. Ltd. provided accounting and tax diligence services to LogicMark.

About NXT-ID
NXT-ID is an emerging growth technology company that is focused on products, solutions, and services for security on mobile devices. The Company’s core technologies consist of those that support digital payments, biometric identification, encryption, sensors, and miniaturization. They have three distinct lines of business that are currently being pursued: mobile commerce, primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting. NXT-ID initial efforts have primarily focused on the development of secure products for the growing m-commerce market, most immediately, a secure mobile electronic smart wallet, the Wocket®. The Wocket® is a smart wallet, designed to protect your identity. http://nxt-id.com/ ,http://wocketwallet.com/

About Livingstone
Livingstone is an international mid-market M&A and debt advisory firm of 100 professionals operating from seven offices in North America, Europe and Asia.

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