News
LAIRD TECHNOLOGIES ACQUIRES M2sys
Acquisition Adds Actuation to Growing Product Offering
St. Louis, Missouri, USA - February 26, 2007
Laird Technologies, the
world's leading designer and manufacturer of antenna solutions,
electromagnetic interference (EMI) shielding products, telematics, thermal
management solutions, wireless systems and signal integrity products, today
announced the acquisition of M2sys Co. Ltd., a privately held business, for
$33.1 million.
M2sys designs and manufactures custom products based on proprietary and
patented technology including pivot, slide and rotary-action assemblies that
enable mechanical actuation of leading-edge handheld devices while
maintaining electrical integrity and performance. M2sys is based in Bucheon,
South Korea and employs 80 people.
In the year ended December 31, 2006, M2sys reported revenues of $13.5
million, an increase over the previous year of 164 percent, and operating
profits of $1.6 million. Based on awarded customer programs, revenues are
expected to more than triple in 2007 compared to 2006, requiring additional
design, manufacturing and assembly expertise, production facilities and
global logistic capabilities to satisfy demand. Laird Technologies will rapidly
provide these resources and skills in order to meet customer schedules and
accelerate M2sys' growth. The addition of M2sys' proprietary technology to
Laird Technologies' product portfolio will allow more complex integrated
designs and convergence of functions and components in future electronic
applications.
"As advanced functions are designed into ever-smaller handheld devices, the
ability to fold, pivot or slide the devices to expose screens and keypads has
become very important and will be even more important in the future," said
Martin L. Rapp, CEO of Laird Technologies.
Mr. Bosung Jeing, founder and CEO of M2sys, said, "M2sys has leading-edge
technology in the field of handheld device actuation mechanisms, and has
been very successful in building relationships with the leading global
handheld product manufacturers, and by becoming part of Laird
Technologies we can rapidly expand our company due to Laird Technologies'
massive global footprint."
About Laird Technologies, Inc.
Laird Technologies designs and supplies customized, performance-critical products for wireless and other advanced electronics applications.
The company is a global market leader in the design and supply of electromagnetic interference (EMI) shielding, thermal management products, mechanical actuation systems, signal integrity components, and wireless antennae solutions, as well as radio frequency (RF) modules and systems.
Custom products are supplied to all sectors of the electronics industry including the handset, telecommunications, data transfer and information technology, automotive, aerospace, defense, consumer, medical, and industrial markets.
Laird Technologies, a unit of Laird PLC, employs over 14,000 employees in more than 40 facilities located in 14 countries.
For additional information or your nearest Laird Technologies
representative, contact:
Tel: (866) 928-8181 or (636) 898-6000
Fax: (636) 898-6100
Internet: www.lairdtech.com
e-mail: sales@lairdtech.com
Trademarks
© 2008 All rights reserved. Laird Technologies and its logo are trademarks of Laird Technologies, Inc. Other products, logos, and company names mentioned herein, may be trademarks of their respective owners.
