MicroStrain of Williston bought by LORD of North Carolina
MicroStrain, Inc. of Williston, Vermont, announced Monday evening that it has been acquired by LORD Corporation, headquartered in Cary, NC. According to Vermont Business Magazine, MicroStrain has 50 employees and reported $13.5 million in revenues in 2011. It is one of Vermont's fastest growing companies, with 160 percent growth in the last five years. It was founded in 1986.
Steve Arms, MicroStrain & Rick McNeel, LORD sign deal.
“We’ve worked on a number of innovative joint development projects with LORD for several years now,” said Steve Arms, founder and CEO of MicroStrain. “Our organizations are well aligned, both from a strategic and a cultural perspective, and we’re excited to have access to the broad range of scientific, engineering, and marketing expertise that has made LORD so successful for more than 85 years. LORD is committed to growing the MicroStrain workforce, which shall remain in Vermont as its Sensing Systems business.”
MicroStrain will continue to serve its existing customer base and markets while simultaneously working to embed its inertial and energy harvesting wireless sensors into LORD vibration control products. These components, with embedded sensors and intelligence, will push time synchronized data to the internet via MicroStrain's SensorCloud services. This will enable fleet operators to aggregate critical operational data from a wide variety of platforms, including fixed- and rotary-wing aircraft, maritime vessels, heavy equipment, and advanced industrial processes. The new sensing systems will reduce maintenance costs, increase mission readiness, and enhance safety
“The joining of LORD vibration and motion control products with the MicroStrain sensor system will enable the next generation of smarter machines, aircraft, and industrial processes,” said Arms.
MICROSTRAIN is a Vermont corporation which specializes in combining micro-sensors with embedded processors to autonomously track operational usage and to navigate and control unmanned systems. For more information, visit www.microstrain.com.
LORD is a diversified technology company specializing in adhesive, coating, and motion management technologies to provide enhanced performance in aerospace, defense, automotive and industrial applications. LORD operates technology centers and manufacturing locations around the world and has more than 2,800 employees. For more information, visit www.lord.com.
MicroStrain is a leading manufacturer of inertial measurement systems, micro-displacement transducers, wireless sensor networks, and energy harvesting technologies. MicroStrain's sensors are used in a variety of industrial, defense, and medical applications including testing of new designs, controlling critical manufacturing processes, navigating unmanned vehicles, platform stabilization, wearable tracking systems and extending the operating life of machines and structures. Recognized as a leader in the sensor industry, MicroStrain has received multiple awards for product innovation.
Source: (Williston, Vt. – Aug. 20, 2012) MicroStrain, Inc