HVAC Breaking News

March 10, 2005: Inovonics Wireless Acquired By Roper Industries

March 10, 2005
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LOUISVILLE, Colo. - Inovonics Wireless Corp. announced that it has been acquired by Roper Industries Inc. of Duluth, Ga. Inovonics, a developer, manufacturer, and marketer of wireless products for monitoring and control in security, submetering, and HVAC applications, says it sought the transaction to gain scale and accelerate growth with new opportunities for the company, including the ability to expand its product line offerings and reach new customers.

"Roper Industries is a great fit for Inovonics business and employees and supports our vision for growth," stated Andy Drenick, president of Inovonics Wireless. "Being part of Roper allows us greater access to global markets, creates opportunities for synergies with existing Roper businesses, and provides us the management tools and resources of a NYSE-traded company with a total capitalization of $3.5 billion." Inovonics Wireless employs approximately 200 people and will continue operations from its current headquarters in Louisville, Colo.

"Partnering with Roper Industries will allow us to better serve our customers by expanding our product offerings and gaining access to Roper's global supply chain," commented Mark Jarman, vice president of sales.

For more information, visit www.inovonicswireless.com.

Publication date: 03/07/2005

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