Private-equity firm Pharos Capital has sold Time Domain, a company that markets ultra wideband products, to a group led by two Birmingham-based peers. Pharos had assumed control of Time Domain four years ago when the company was struggling financially.
The Nashville office of Pharos Capital, which is led by Mike Devlin, has taken the reins at Time Domain, a Huntsville tech venture in which it had already invested and whose board early this year told investors it was insolvent. The firm has shaken up management and injected more cash into Time Domain, which makes location sensors that use ultrawide bandwidth frequencies.
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