Pi Innovo Acquired by MiddleGround for New Eagle

MiddleGround Capital has completed an add-on acquisition of Pi Innovo, acquiring the open platform electronic control systems and control software business from Dana Incorporated. Pi Innovo will be integrated into MiddleGround’s portfolio company, New Eagle.

New Eagle provides proprietary hardware and software controls technology for automotive, commercial vehicle, off-highway, aerospace and defense industries. Pi Innovo, founded in 2011 and headquartered near Detroit, designs embedded software solutions and electronic control units for electrification, clean fuel, and specialty mobility applications, including OpenECU controllers and related engineering services.

The announcement follows MiddleGround’s earlier acquisition of New Eagle in November 2021.