GarrettCom, Inc. is acquiring DYMEC, Inc. This move broadens GarrettCom's product offerings and sales and service channels, with a particular focus on the expanding market for power utility automation and surveillance networks.
Power utilities must deploy new technologies to increase the reliability and security of electric power generation, transmission and distribution infrastructure. Both GarrettCom and DYMEC have aggressively addressed these critical needs of utilities. The companies' merger of product development and customer support capabilities will bring added focus on the rugged, intelligent and secure networking requirements of this critical infrastructure sector.
The company's new product line immediately includes GarrettCom's Magnum line of industrial Ethernet products, DYMEC substation-hardened fiber Links and Optical Stars, and DynaStar multi-protocol routers and terminal servers. New products leveraging the companies' combined strengths will be forthcoming later this year. GarrettCom will also market the combined line within factory automation, telecommunications, transportation and other industrial sectors where GarrettCom is already established, including international markets.
The acquisition is effective Aug. 1, 2006. Frank Madren will remain president, GarrettCom, Inc. John Shaw, president of DYMEC, Inc., will become executive vice president of GarrettCom with responsibility for the Utility Networks product and marketing initiatives of the company. Both GarrettCom and DYMEC are privately held. The financial terms of the agreement have not been disclosed.
"The undeniable synergy between the two companies in both networking technologies and distribution channels makes the merger an obvious step," said Madren. "By combining our products under a single umbrella, power utilities and other customers, many of whom are already using products from both GarrettCom and DYMEC, will have a single source for sales and support."
"GarrettCom's penetration in Europe, South America and Asia as well as into non-utility market sectors will extend the market coverage for DYMEC's router and terminal server products," said Shaw. "In addition, our combination with GarrettCom's innovative Ethernet technology will accelerate new product offerings for utilities and other industrial customers."