July 24, 2001 Textron Inc. has acquired two more companies that will become part of Tempo (www.tempo.textron.com), a unit of Textron. Tempo has acquired Industrial Technology Inc., based in Mineral Wells, TX; and Opto-Electronics Inc., based in Oakville, Ontario, Canada. Terms of the transactions were not disclosed. Textron has acquired eight companies in the telecommunications test-equipment industry during the past three years.
"We will continue to increase our share of this attractive market through strong organic growth coupled with strategic acquisitions such as these," said Textron chairman and chief executive officer Lewis Campbell.
Industrial Technology manufactures the Throwmaster test set, which permits the transfer of telephone service from one cable to another without service interruption. The company also designs, manufactures, and markets digital signal identifiers and tone probes, cable-fault locators, and a line of electronic marking and locator equipment. It projects its 2001 sales to be $20 million.
Opto-Electronics produces fiber-optic test instruments for telecommunications, aerospace, and defense industries. Products include high-resolution picosecond optical time-domain reflectometers, fiber-optic systems, pulsed lasers, and photodetectors. The company also offers services including training, consultation, and equipment calibration. Its projected 2001 sales are $5 million.
"Growth in telecom and datacom test equipment continues to outperform the overall telecom sector and is a significant long-term growth opportunity," said Tempo president Scott Hall. "Demand in the last-mile part of the telecommunications network in particular is being driven by end users' need for high-speed Internet access and improved capabilities. Industrial Technology and Opto-Electronics are leaders in this technology and target this end of the market with superior products and services."
