Avallon MBO, a private equity fund, completed the acquisition of a majority stake in Globema, a provider of geo-spatial and location-based software services. Financial terms were not disclosed. "After the transaction, we will continue following our business path and focus mostly on expanding our LBS products and services based on Google Maps. Moreover, we will be developing Network Inventory Management systems using the GE Smallworld platform, especially in the USA and Canada. We also plan to commercialize the products that we have been developing at our R&D Center over the recent years. These products are based on multi-million research projects. It will be a crucial element of our company’s value increase in the next few years," Ryszard Rybus, Globema CEO.