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Phoenix Contact acquires Innominate Security Technologies AG
Deal expands industrial security company's global reach
Hannover, April 28 2008 - The Blomberg-based market leader for electronic interface and industrial automation technology, Phoenix Contact GmbH & Co. KG, is the new owner of the Berlin-based Innominate Security Technologies AG. The announcement was made last week on the fourth day of the Hannover Messe by Roland Bent, Executive Director of Phoenix Contact, together with Joachim Fietz, CEO of Innominate.
In 2007, Phoenix Contact and Innominate entered a strategic partnership, forming the basis for a close technological collaboration between the two companies. Since then, Innominate has supplied the basis for Phoenix Contact's Ethernet Security products with its mGuard technology. The acquisition of Innominate represents a strategic enhancement to the industrial automation technology of Phoenix Contact.
Innominate will profit from Phoenix Contact's capability and reach. "We are looking forward to an even closer collaboration with Phoenix Contact. The deal provides us with a major opportunity to strengthen our position as an important supplier of the international industrial machinery and equipment sector," commented Joachim Fietz, CEO of Innominate.
Innominate's strength in the industrial security technology industry was recently underlined by the international market analyst house, Frost & Sullivan. Innominate received the "Global Ethernet Security Leadership" from Frost and Sullivan at an awards ceremony which took place at the Phoenix booth of the Hannover Messe. 06.10.2008, Innominate Security Technologies AG
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