Growing M2M business broadens its offerings and reach into additional markets
St. Louis, Missouri, USA – March 2, 2012 – Laird Technologies, Inc., a global technology company focused on providing components and solutions that protect electronic devices from electromagnetic interference and heat, and that enable connectivity through wireless applications and antenna systems, today announced its acquisition of Summit Data Communications. For the year ended 31 December 2011 Summit's revenues were $17.2 million. Revenues increased over the previous year by 13%.
The acquisition expands Laird Technologies’ presence in the wireless machine-to-machine ("M2M") market. Summit’s technologies are aligned with Laird’s strategic focus on systems and services built around solutions which combine hardware and software.
“The acquisition of Summit allows us to develop further our wireless connectivity offering, adding products to our range that allow wireless systems to function efficiently in difficult radio frequency environments like factories and hospitals,” said Nigel Keen, Laird’s Executive Chairman.
Summit opened its doors for business in 2006 and already serves more than 75 customers around the world. With its main facility in Akron, Ohio, U.S.A. the company will be a great addition to Laird Technologies’ rapidly expanding wireless modules business.
“Laird Technologies entered the M2M module business a few years ago and the addition of Summit allows us to further expand our business into new markets,” said Tom Cochran, President of Laird Technologies Wireless Systems Division. “Summit has developed a great track record in a short amount of time and when you add that to the world-class engineering and product development teams that we have in place, it makes for an exciting growth opportunity.”
“Laird Technologies has a well-deserved reputation for quality and innovation in wireless communications,” said Ron Seide, President of Summit Data Communications. “By joining Laird, Summit is now able execute faster on a broader roadmap to bring our proven capabilities to an expanded set of markets, technologies and geographies.”
About Summit Data Communications
Summit is a provider of industrial-grade and medical-grade wireless modules. Summit's rugged Wi-Fi and Bluetooth solutions provide secure and reliable wireless connectivity for devices such as data collection terminals and medical equipment that operate in harsh radio frequency environments such as factories, warehouses, and hospitals. More than 1.5 million Summit wireless modules are in use today at companies of all sizes around the world.
About Laird Technologies, Inc.
Laird Technologies is a global technology company focused on providing components and solutions that protect electronic devices from electromagnetic interference and heat, and that enable connectivity through wireless applications and antenna systems.
Custom products are supplied to all sectors of the electronics industry including the handset, telecommunications, data transfer and information technology, automotive, aerospace, defense, consumer, medical, mining, railroad and industrial markets.
Laird Technologies, a unit of Laird PLC, employs over 9,000 employees in more than 46 facilities located in 16 countries.
Translated versions of this press release are available in Simplified and Traditional Chinese, Japanese, Korean, and German languages.
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