Electronics Production |
Jaltek Group acquires Iris Technology
Jaltek has recently completed the acquisition of Lancaster-based IRIS Technology, a remote asset telemetry and monitoring solutions company.
By acquiring IRIS, Jaltek has further expanded its service offering to include telemetry product design and supporting networks, video/data fusion, ADSL networks and fibre optic communications solutions. Accordingly, IRIS’ customer base gains access to Jaltek’s extensive, multi-centred manufacturing, PCB design and software design capabilities. The acquisition complements Jaltek’s wireless technology solution focus and confirms that Jaltek Group is on course with its strategy of developing its portfolio of expertise to provide added value to its growing customer base.
IRIS Technology Limited was formed in January 2001 as a specialist telemetry designer and supplier to the offshore oil and gas industry. In March 2002 MIRA, the UK Motor Industry Research Association awarded IRIS with a contract to develop and supply a ‘black box’ to interface directly to the vehicle CANBus and allow real time data to be communicated over GSM telemetry. Since that time IRIS has successfully secured partnerships with major automotive industry providers to present a range of telemetry services to major vehicle manufacturers globally.
David Ireland, Managing Director of IRIS Technology summed up the acquisition: "Jaltek brings a level of investment, scale and well established specialist experience in areas that will enhance the range of services we can provide to our customers and support the ongoing development of our telemetry solutions. This is an exciting time for IRIS and the next logical step to accelerate growth. I look forward to taking the company forward."
Pravin Sood, CEO of Jaltek Group added: "IRIS is an excellent fit for Jaltek in terms of specialist skills and market positioning. This acquisition means that we will expand our customer base and value added offering and give us valuable exposure to new opportunities. In particular, growing interest in remote wireless telemetry monitoring systems across a variety of industry sectors presents a significant new opportunity for the Jaltek Group."
