With the backing of private equity investors Bru Venture Capital and Connemara Capital Co., onboard computer maker Cadec Corp. has been sold to a newly formed company called Cadec Global LLC.

“We are pleased that these two fine institutional investment firms have recognized the opportunity that Cadec represents and have committed their strong financial backing to insure its continued success,” says Les Dole, Cadec CEO.

“Application of mobile technology to fleet management, asset tracking and integration into supply chain management will be a high growth sector in coming years,” adds Siggi Bjornsson of Bru Venture Capital.

“We are genuinely impressed with the level of expertise and domain knowledge at Cadec…we see a great potential for success.”