Nevada-based Movella, which makes motion-tracking technology and bought Halifax’s Kinduct in 2020, has gone public on the Nasdaq stock exchange via a reverse acquisition.

Movella, at the time called mCube, bought Kinduct and its health data technology for an undisclosed price. Kinduct CEO Travis McDonough told Entrevestor at the time the deal was worth more than the $70 million sale of GoInstant to Salesforce in 2012.

Shares of Movella started trading Monday, after the business absorbed special purpose acquisition company Pathfinder Acquisition Corp. According to MarketWatch.com, tha shares opened Monday at almost US$9 and slid to close Thursday  at US$3.31 The market capitalization Thursday night was US$165.6 million.

“Becoming a public company will fuel our growth in digitizing movement and accelerate our progress in enabling our customers to realize extraordinary outcomes across entertainment, health and sports, and automation and mobility markets," said Movella CEO Ben Lee in a statement.

It is unclear whether the Kinduct buyout included Movella shares, but employees of innovative companies usually receive stock as part of their compensation packages, so it is likely some players in the regional startup ecosystem now have shares in the publicly listed company.

McDonough is still working for Movella, where he holds the title of President of Movella Canada and Vice President Business Development Sports and Health.

Founded in 2010, Kinduct developed what it billed as the world's largest collection of sports data for athletes, coaches, trainers and medicine professionals. Its clients included some of the globe's most successful teams and athletes.

The company was controlled by its founders and Nova Scotian investors such as CFFI Ventures founder John Risley. Kinduct’s largest institutional investor was Intel Capital — the VC arm of the chipmaker — which led its US$9 million funding round in 2016.