SALT LAKE CITY-Silex technology america, a biometric fingerprint reader and software developer, inked a deal to acquire the Wireless and Connectivity Solution division of rival Troy Group Inc. for $10 million. Silex said it expects the deal to broaden its customer base and increase its international business by more than $10 million in sales annually.
Silex sells fingerprint security devices that help users improve the way they move secure information. Troy Group operates two units-Secure Payment Systems, which focuses on secure printing, check management and secure electronic payments, and Wireless and Connectivity Solutions, which sells technology to enterprise workers that allows them to share intelligent devices such as printers either wirelessly or using traditional networks.
Silex said the acquisition will expand its existing offerings for network communications including wireless connectivity and security.
“Troy Group Inc. is a well-known and respected brand name in network connectivity solutions, and this acquisition is a big step for silex
technology inc., as we continue to grow our business and increase our print server and device server market share on a global scale,” said Takeshi Kono, president and chief executive of the company.
“With the acquisition of Troy Group’s Wireless and Connectivity division, silex will not only strengthen its overall position in the U.S. market, but it will also expand our presence in the European market because of Troy’s presence in Europe,” said David Smith, president of silex technology america.
