The Klowd team will keep operating out of its Eagle office as a development team for Freeman, which says it is the world’s largest event planning and operating company.
“We’ll be staying here,” Klowd founder and CEO Ken Holsinger said. “We’re hiring; Freeman may extend our footprint and office here for other things as well.”
Founded by Holsinger in 2011, Klowd developed software that allows audience members at group presentations to use their smartphones to interact with presenters by asking questions or responding to polls or posting to Twitter. The software then provides information based on the presentations to help customers evaluate which speakers or topics are most engaging.
About a year ago, Klowd agreed to provide its products exclusively to Freeman, a Dallas-based producer of 4,300 conferences and 11,000 corporate and special events annually, according to Freeman’s website.
With Tuesday’s purchase, Freeman acquired the patent that powers Klowd’s products and hired Klowd’s team to develop other products, Holsinger said.
Klowd may change names, but Holsinger said he would remain in charge of Eagle operations as vice president of Freeman’s Digital Solutions Division. He is hiring three software developers as the team prepares to tackle new projects for Freeman, he said.
Terms of the Jan. 12 sale were not disclosed. Klowd was approaching profitability before selling, Holsinger said. He did not disclose revenues.