Inovonics Wireless Corporation, a manufacturer of wireless security monitoring and business controls products, has been acquired by Duluth, Ga.-based Roper Industries.
According to Andy Drenick, president of Inovonics Wireless Corporation, the acquisition by Roper is "a great fit."
"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," Drenick said in a prepared statement.
Inovonics Wireless currently has approximately 200 employees and bases its operations out of Louisville, Colo. The company will keep its headquarters and operations in Colorado.
"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," said Inovonics V.P. of Sales Mark Jarman in a statement to the press.