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Millennial Net is acquired by PHC Holding GmbH
Millennial Net acquisition sets
stage for next phase of growth
Burlington, MA – September 5, 2006 - Millennial Net, Inc. today announced
that it has been acquired by PHC Holding, GmbH (PHC) for an undisclosed amount.
PHC is a privately held company headquartered in Esslingen, Germany. Millennial
Net will continue to operate as an independent company.
Complementing PHC, the Festo Group, a world-leading supplier of automation
technology based in Germany, has committed a long-term R&D contract with
Millennial Net to extend their knowledge in wireless technology. Hans
Gerlach-Erhardt, Director of Technology and Alliances of Festo and member of the
supervisory board of Millennial Net commented, “We are pleased to accelerate our
wireless roadmap through this new relationship. By extending our R&D through
Millennial Net, we can provide wireless solutions to a wide range of Festo’s
automation technologies.”
Mathias Klingler, Chairman of the Board for PHC stated, “The Millennial Net
acquisition represents a key milestone in the company’s wireless sensor
networking strategy for asset management, tracking and control applications. We
believe combining Millennial Net’s market leading technology with our channel
and industrial alliances provides the resources necessary for volume deployment
in both the industrial and medical markets.”
“Being part of PHC creates a unique opportunity for Millennial Net to
collaborate in creating industry standards. Our customers can continue to use
Millennial Net’s market leading products and work with us to accelerate their
next generation products based on wireless sensor networking with our
SensorReady™ products.,” remarked Martin Hanssmann, CEO of Millennial Net.
Prior to the acquisition Millennial Net had developed its leading low power
mesh networking technology through the VC funding and support of Globespan
Capital Partners, General Catalyst Partners, Kodiak Venture Partners and BCE
Capital.
About PHC
PHC takes strategic investments with an operative focus in several companies
to provide products, technologies and services in the medical, the health care
and the wellness industry. PHC was founded with the intention to become a leader
in the field of telemedical applications by creating innovative products and
services using wireless technologies for the transfer of biomedical data by
modern communication media. Via its Network, PHC generates synergies between its
partners and can provide Millennial Net the access to industrial alliances and
partners for medical use of the wireless technology.
About Millennial Net
Millennial Net develops commercial- and industrial-class wireless networking
systems for sensing and control applications that enable OEMs and systems
integrators to quickly and cost-effectively implement wireless sensor networks.
These networks enable the remote monitoring and management of critical devices
while providing data to enable more informed decision-making, better control and
increased revenue opportunities. Millennial Net's patented ad hoc,
self-organizing wireless sensor networking MeshScape™ system leads the industry
in power efficiency, support for dynamic systems and mobile sensors,
reliability, and scalability. Millennial Net also leads the industry in
real-world deployments with networks installed across commercial building and
industrial environments. Millennial Net is headquartered in Burlington, MA. For
more information, visit
www.millennialnet.com.
About Festo
Festo’s product range for industrial automation comprises roughly 23,000
products, with a basic range that includes drives, valves, valve terminals,
handling and assembly technology, service units for compressed air, connection
technology, vacuum technology, position and quality checking, sensors, control
technology and bus systems. Also part of the Festo range are industry segment
solutions for the automotive industry, electronics industry, food and packaging
industry, process industry and handling and these comprise a wide spectrum of
products from individual pneumatic components and assemblies through to turnkey
systems. For more information visit www.festo.com.
Press Contact
Jeannette Vining
Millennial Net
781-222-1030 x254
jvining@millennialnet.com
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