Nov 29 2010
Laird has declared the acquirement of Cattron Group, a leading provider of automation and wireless control systems, for $90.0 million. This acquirement will enable Laird to widen its wire-free machine- to- machine (M2M) contribution and for further develop its recent acquirements of AeroComm in 2007 and Ezurio in 2008. It will also enable the company to offer synergistic product creation and technology.
The products of Cattron Group offer wire-free control of several operations of their clients’ machinery, offering security and increased output. The company has established strong relationship with its clients and it has a big installed product base.
The acquirement will enable the company to further expand its total software driven systems. The future revenue growth of the company is likely to be augmented by market share returns, due to Laird’s latest product development programmes, upcoming new applications for global automation and wire-free systems, enhanced penetration into growing markets and the substitution programmes decided by the European and North American clients of the company.
Peter Hill, Chief Executive of Laird, has stated that the acquirement of Cattron Group will help to realize their strategy of expanding their market and client network, and their competency in delivering aftermarket services and systems to their clients. He mentioned that the market demand for automation and wireless control systems increases continuously and that their company is well positioned to partake in this expansion. He added that their current business of wireless systems is likely to offer enhanced opportunities and their financial attributes include low capital intensity, improved operating margins and a major share of aftermarket revenues.
John Paul, CEO of Cattron expressed his excitement in joining Laird. He said that Laird’s expertise in wireless communication technologies, worldwide functional abilities and access to emerging global markets will position their company in the next level of offering the most ideal productivity and secure solutions to their clients.
Source: http://www.lairdtech.com