Ohio TechAngels Announces Latest Exit

Ohio TechAngels has announced its latest exit with the sale of SageQuest, Inc. to Dublin, Ireland-based Fleetmatics.  Ohio TechAngels was a co-investor alongside lead investor Hopewell Ventures. 

SageQuest is a nationally recognized leader of GPS vehicle management solutions that improve the efficiency and productivity of mobile workers for utility, cable, and broadband companies throughout North America.

"The SageQuest management team and investors worked diligently over the last five years to build a world-class Midwestern company" said Tom Parkinson, Partner at Hopewell Ventures.   "This transaction demonstrates that, even in a tough economic market, a quality management team can build a company with significant shareholder value."  SageQuest, in an all cash transaction, generated multiples of its paid-in capital and yielded a strong rate of return for all shareholders.

For more information on SageQuest visit www.sage-quest.com.

For more information on Ohio TechAngels visit www.ohiotechangels.com