Exosite Receives Significant Investment and Preferred IoT Supplier Status from Parker Hannifin

MINNEAPOLIS–(BUSINESS WIRE)–July 22, 2015–

Exosite LLC announced today that it received a significant equity investment from Parker Hannifin Corporation (NYSE: PH), expanding the existing partnership between the two organizations. This minority ownership investment extends Parker Hannifin’s preferred supplier status to Exosite and provides capital to accelerate Exosite’s global expansion plans. Financial and other details of the transaction are not being disclosed at this time.

Exosite is a leading developer of cloud-based solutions that enable customers to connect smart devices to the Internet for remote control, monitoring, and business analytics. With annual sales exceeding $13 billion in fiscal year 2014, Parker Hannifin is the world’s leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial, and aerospace markets. The two organizations began collaborating in 2013 and decided to expand their partnership based on the successful deployment of Internet of Things (IoT) programs across several of Parker Hannifin’s global operating divisions.

“We are pleased to expand our partnership with Parker Hannifin,” said Hans Rempel, CEO of Exosite. “By combining our IoT products and partnerships with Parker Hannifin’s established motion and control technologies, we are well positioned to lead the deployment of cost-saving and revenue-generating IoT solutions for OEMs in a variety of market segments.”

About Exosite

With offices in the Americas, APAC, and EMEA, Exosite enables the world’s leading durable goods manufacturers in consumer, commercial, and industrial segments to quickly build and deploy solutions that capture the IoT generation of their business. Exosite provides an enterprise-grade, analytics-driven IoT software platform that allows OEMs to create economic leverage, while eliminating the risk and burden of custom infrastructure. For more information, visit www.exosite.com.

Exosite was co-founded in 2009 by Mr. Rempel and the principals of Invenshure, LLC, a technology incubator that holds Exosite as a portfolio company. Through its Funds I and II, Invenshure has provided growth capital via both equity and debt investments in Exosite. The Invenshure partners have also served as board members and strategic advisors to the Exosite management team. For more information, visit www.invenshure.com.

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Exosite LLC
Benno Sand, 612-840-5702
bennosand@exosite.com