Distech Controls Inc. and Circon Systems Corporation jointly announced last month that they have executed a Letter of Intent outlining the terms under which Distech Controls proposes to acquire the assets of Circon’s building automation system business, including its technology, brand, trademarks and trade names.
Circon, based in British Columbia, Canada, has been offering LONWORKS products for the building automation industry since 1992. Circon’s management and shareholders have determined that Distech Controls offered the most effective transition strategy for their channel, providing the greatest opportunity for product and sales continuity. Distech Controls, a privately-held company, also based in Canada, is a leading provider of LONWORKS and multi-protocol building automation solutions, and its product line offers a simple and efficient migration path for Circon dealers and end-user customers.
Those involved expect the union of the two organizations’ technologies and distribution channels to create a strong value proposition for system integrators and building owners looking to deploy state-of-the-art open control products and environmentally-conscious building management technologies.
The transaction was expected to be complete as of December 29th, 2008.