Portland startup Geoloqi was sold to Esri, a privately held mapping software company in Southern California.
Esri plans to turn Geoloqi's seven-person Portland office into a new research-and-development hub, adding employees as it incorporates the startup's technology into its own.
"I don't really care about doing something shiny for two years," said Amber Case, Geoloqi's chief executive and co-founder. "I want to do something that means something for thirty."
Geoloqi's sale marks the first exit for a member the Portland Seed Fund, the city-backed effort at providing early-stage investment for the region's startups.
Read more at OregonLive.com.