DULUTH, GA, Feb. 28, 2005 (PRNewswire-FirstCall) -- Roper Industries Inc. has acquired Inovonics Wireless Corp., of Louisville, Colo., a leading provider of 900 MHz radio frequency (RF) products for security applications. Total consideration was approximately $45 million.
Inovonics' products, which use a proprietary frequency-agile technology to provide superior range and reliability, are also used for water sub-metering and remote temperature monitoring applications. The business has annual sales of approximately $30 million with high EBITDA margins that are consistent with Roper's businesses.
"We are pleased to welcome the Inovonics team to Roper's growing family of RF solutions," said Mr. Jellison. "We see exciting opportunities for our RF technologies, including security markets where Roper has a growing presence. This transaction also complements the automatic meter reading technologies offered by Neptune for water markets. We look forward to working with the Inovonics team to expand their market and technology opportunities."
Roper Industries (www.roperind.com) is a diversified industrial growth company providing engineered products and solutions for global niche markets. Its brands provide customers cross four market segments: Instrumentation, Industrial Technology, Energy Systems and Controls, and Scientific and Industrial Imaging. Subsidiaries include Neptune Technology Group, Flow Technology Inc., AMOT Controls, Fluid Metering Inc., Abel Pump Technology, Cornell Pump Co. and Roper Pumps.
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