Louisville, CO., February 28, 2005
— Inovonics Wireless Corporation today 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, temperature and other applications, sought the transaction to gain scale and accelerate growth with new opportunities for Inovonics Wireless, 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 Corporation. "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 their current headquarters in Louisville, CO.
"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.
About Inovonics Wireless Corporation
ISO 9001 certified Inovonics Wireless Corporation pioneered the use of 900 MHz products in the security, submetering, and HVAC industries and has shipped over three million RF devices in these markets. For more information, please contact Rita Sromek, Marketing Communications Manager, Inovonics Wireless Corporation, 315 CTC Blvd., Louisville, CO 80027; call 800-782-2709; or visit us at www.inovonicswireless.com
About Roper Industries
Roper Industries is a diversified industrial growth company providing engineered products and solutions for global niche markets. Additional information about Roper Industries, including registration to receive press releases via email, is available on the Company's website, www.roperind.com