Proxy completed the acquisition of Motiv from the investor consortium.

Proxy, an American software developer, completed the acquisition of Motiv, an American smart ring manufacturer, from the investor consortium. Financial terms were not disclosed. “Wearables have yet to reach their full potential. They have been relegated to fitness and sleep tracking, when there are more profound purposes we should be aiming for. The existing wearable space is analogous to the flip phone days of the smartphone world. With the acquisition of Motiv, Proxy is igniting a paradigm shift in how people use wearables to interface with the physical world, so they can do and experience things they never have before,” Denis Mars, Proxy Co-Founder and CEO.