GAITHERSBURG, Md., Oct. 06, 2017 (GLOBE NEWSWIRE) --Patton Electronics-US manufacturer of UC, cloud, and IoT enabling solutions for carrier, enterprise and industrial networks-has executed a strategic transaction withFiberPlex Technologies-supplier ...
GAITHERSBURG, Md., Oct. 06, 2017 (GLOBE NEWSWIRE) -- Patton Electronics-US manufacturer of UC, cloud, and IoT enabling solutions for carrier, enterprise and industrial networks-has executed a strategic transaction with FiberPlex Technologies-supplier of secure fiber-based digital communications to US Government and commercial markets.
Patton has acquired certain assets and intellectual property rights of FiberPlex and begun consolidating FiberPlex operations in Patton's Gaithersburg Maryland facility. Other terms of the transaction are not disclosed.
The consolidation creates a unified business, growing Patton's revenue and adding significant new resources, competencies and capabilities to the Patton group. New solutions from the combined core technologies and product portfolios enhance value to Patton and FiberPlex customers, channels and ecosystem partners.
FiberPlex customers will continue to receive stable, uninterrupted service and product supply, with all warranty and service agreements fully honored. FiberPlex channel partners will be credentialed into Patton's channel program and given access to the full suite of complementary products. Patton channels will also gain access to FiberPlex products.
"The list of synergies is too long to enumerate," said Bobby Patton, CEO of Patton Electronics. "Our product lines complement each other beautifully and the combined manufacturing capabilities mean we can offer a new level of vertical integration to the worldwide market."
"We are excited about this new chapter for the FiberPlex brand," said Buddy Oliver, CEO of FiberPlex. "We share a vision for the market and look forward to bringing new value to our employees, vendors and customers."
"The FiberPlex cutting-edge fiber technology know-how enhances our contribution to our newly combined customer base. The advanced metal works manufacturing operation of FiberPlex makes us even more vertically-integrated, boosts our rapid-prototyping capabilities and increases the velocity in which we can commercialize technology," Bobby added.
The FiberPlex product line focuses on secure fiber-based digital communications solutions that protect against compromising emanations and feature physical security, intercept avoidance, and layer-zero cyber security.
Both companies are family-owned, brick-and-mortar, advanced-manufacturing operations founded on conservative business principles and American values and focused on cutting-edge technologies, products, and services.
In related news, InsightsSuccess Magazine recently recognized Patton as a top-Ten UC solutions provider for 2017.
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Source: Patton Electronics Co. via Globenewswire
Source(s) : Patton Electronics Co.
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