Stone Ridge Ventures has achieved an exit for one of the early investments in its Innovation Investment Fund (IIF). Atlanta based EMS Technologies, Inc (NasdaqGS:ELMG), a leading provider of wireless and satellite communications solutions, has signed a definitive agreement to acquire Adelaide based DSpace. EMS is currently a leader in aero-broadband for military, corporate and commercial aircraft, with the US$5.7 million deal set to strengthen the EMS SATCOM business and enable their entry into the land-mobile and maritime markets.

SRV IIF was a major investor in DSpace which was founded in 1995. DSpace’s core business was the development of a low cost, software-defined radio system which facilitates the continuous upgrade of satellite communications platforms. Through the use of this innovative technology DSpace have been instrumental in the development of Inmarsat’s BGAN satellite radio protocols which enable voice and data connectivity beyond the reach of land based networks.

DSpace will become part of the EMS SATCOM Division, but will remain in its current location in Australia.

“Through our IIF investment in DSpace and active involvement in the company over the past five, we have helped DSpace transform from a small consulting business to well respected provider of technology to the mobile data satellite industry”, said Rob Newman (Investment Director – Stone Ridge Ventures). “This is the first of what we expect to be a number of positive exits from our IIF over the next couple of years”.

Further information on DSpace:

http://www.emssatcom.com/company/DSpace.aspx

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