Fluke Networks buys Fotec
Fluke Networks (Everett, WA) has purchased fiber-optic test-equipment maker Fotec (Medford, MA), including all of Fotec's products and technology. The deal includes Fotec's "Fiber U" and "Wire U" conferences and Web-based educational programs
Fluke Networks (Everett, WA) has purchased fiber-optic test-equipment maker Fotec (Medford, MA), including all of Fotec's products and technology. The deal includes Fotec's "Fiber U" and "Wire U" conferences and Web-based educational programs. Finan-cial terms were not disclosed, but the parties did say that Fotec's revenues in 2000 were less than $5 million.
The ACT2 and other Fotec products will continue to exist under the Fotec brand now that Fluke Networks has purchased the company.
James Hayes, president of Fotec, commented, "The acquisition will bring Fluke Networks' resources and technologies together with Fotec's technical depth and customer base. Fotec customers will benefit from groundbreaking product developments that we alone could never have actualized without shared resources." Hayes will continue on with Fluke Networks; a release announcing the deal said Hayes will take an active part in the management of the company's fiber business.
"Together with the Fotec team, we will greatly accelerate the contribution that we can make to meet the evolving needs of our fiber-optic customers," said Fluke Networks president Chris Odell.
Fluke Networks said it will continue employment of all 17 full-time and six part-time Fotec employees.
A statement released by Fluke estimated that the companies share a 10% overlap in existing technologies in the fiber-optic arena, where Fluke Networks just recently expanded its product lines. The statement also said users can expect to see new products, developed as a result of the acquisition, by the end of the year.
Meanwhile, Fotec products under the Fotec brand will continue to exist, while Fluke Networks will try to leverage the companies' reach worldwide.