Phunware Acquires Lyte Technology
Lyte Technology is a privately held company that offers high-end computer systems to consumers. The company is based in Austin, Texas, and currently employs 30+ people. Its products and services include custom built PCs, desktop shipping, and DIY PC build kits. The company is committed to facilitating early adoption of the new data economy.
Phunware acquires privately-held Lyte Technology
Phunware, Inc., a fast-growing provider of high-performance computer systems, has completed the acquisition of privately-held Lyte Technology Inc. The transaction was financed with cash on hand and unsecured non-dilutive debt. The company expects to generate net revenues in excess of $5 million by the fourth quarter of its fiscal 2021 year.
The acquisition of Lyte Technology will help Phunware create a decentralized data economy where users own their data and are paid for it. This eliminates the need for a middleman. However, in order to build a decentralized network, a physical infrastructure must be built. With the acquisition of Lyte Technology, Phunware will now be able to distribute high-performance computing systems throughout the world.
The acquisition of Lyte Technology will also enable Phunware to increase its mobile advertising revenue. The company’s platform will allow advertisers to target consumers based on where they are and what they’re doing. Using this data, marketers can customize their content and make it more relevant to their customers. This technology helps companies build ad campaigns and engage customers through their mobile devices.
While Phunware no longer primarily sells SaaS-based software, its top-line revenue mix has shifted to hardware sales. This is a big shift for the company and poses a significant risk to its future. This could impact revenue growth trajectory as a slowdown in the macroeconomic environment would impact consumers’ discretionary spending.
Company is based in Austin, Texas
Lyte Technology is a privately held provider of high performance computer systems. The company offers a unified cloud platform for mobile and enterprise applications. The company’s mission is to deliver insightful financial information, institutional-level oversight, and efficiency to companies of all sizes. Through its cloud computing platform, Lyte offers scalable back office services to support the needs of fast-growing companies.
Lyte is a highly profitable system integrator and distribution platform specializing in high-end computer systems and advanced graphics. It employs over 25 people in Illinois and ships thousands of computer systems per quarter. The company has largely grown through word-of-mouth.
It offers high-end computer systems
Lyte Technology was founded just over two years ago and specializes in the distribution and marketing of high-end computer systems. They provide custom-built PCs, desktop shipping and a range of other services to consumers. The company employs over 25 people and ships thousands of computer systems each month. Their target customers include developers, content creators, crypto enthusiasts and gamers.
LYTE PCs are backed by a one-year warranty and many parts come with additional warranties from their component manufacturers. For instance, all graphics cards from Gigabyte are backed by a three-year warranty. In addition, the company’s customers have access to support and maintenance from the company’s website.
It has 30+ employees
Lyte Technology is a high-end computer distribution company that was founded two years ago. It ships thousands of computers each month, and has 30+ employees. Its customers include developers, content creators, gamers, and crypto enthusiasts. The company has a great culture, and works hard to connect with its customers.