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 EDITORIAL CONTACT: Patrick Riley Integrated Communications Management pjriley@icmarcom.com 603.893.6510 FOR IMMEDIATE RELEASE VETTE CORP. ACQUIRES EUMAXTHERMAL MANAGEMENT SOLUTIONS PROVIDER AGGRESSIVELY EXPANDSManchester, NH - November 11, 2004 - Vette Corp., a provider of thermal management solutions, today announced its acquisition of China-based EUMAX. With the acquisition of EUMAX, known primarily as a heatsink and fan manufacturer for the computer industry, Vette enters the global market in thermal management with a portfolio of 21 patents; design and applications engineering in Asia and North America; and a customer list of blue-chip electronics manufacturers. Terms of the transaction were not released. Vette's thermal management technologies remove heat that diminishes the performance of electronic products in an increasingly wide array of industries. As electronic systems increase in functionality and complexity, heat-related factors have a greater impact on product development cost and time-to-market. Heat dissipation problems in electronic components and systems increase as more powerful computer chips, increased system integration, smaller form factors, and more sophisticated power requirements continue to be driven by consumer demands for a mobile and plugged-in lifestyle. According to Vette's CEO George Dannecker, "Acquiring EUMAX fits our model of providing world-class, high-volume supply of thermal solutions to the global computer and power electronics industries with localized prototyping and preproduction facilities to ensure high-quality customer support. "In addition to expanding our manufacturing capabilities, this acquisition gives us additional technology evaluation bandwidth, which is critical to our continued acquisition and aggressive partnering with cooling technology companies to provide our customers the complete thermal solution," Dannecker concluded. Vette Corp. recently concluded a Series A round of financing, co-led by General Catalyst Partners and seed investor Kodiak Venture Partners, bringing Vette's total funding to $9.4 million. The company had stated that the capital would be used for global expansion. About Vette Corp. Vette Corp. is a rapidly growing thermal management solutions provider specializing in solving thermal challenges in electronic cooling for the leading OEMs in both the computer and industrial industries. Vette's CEO, George Dannecker, was formerly president of Aavid Thermal Technologies. Ron Borelli, chairman of Vette's board of directors, served as Aavid Thermal's CEO and chairman. Together, Dannecker and Borelli built Aavid Thermal into the world's largest and most profitable heat sink company, bringing the venture from $35 million to more than $300 million in revenues in less than six years. With high-volume, Asian-based heatsink and fan manufacturing coupled with advanced applications and design teams, Vette Corp. offers their global customers the lowest-cost, highest-quality solutions for their most complex thermal problems. For more information, visit: www.vettecorp.com. |
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Download November 11, 2004 Press ReleaseCopyright © 2010 Vette Corp. All rights reserved.
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