2008-08-21 15:04:02 -
www.sat-corp.com - Global Marketing Howard W. Beader, 713-344-2600 (Media/Analyst) Howard.Beader@Wonderware.com Houston-based SAT Corp. announced today that it has been acquired by Wonderware, a business unit of the London based, global technology and controls company Invensys plc (ISYS.L.).
SAT began in Clear Lake, Texas in 1995, founded by entrepreneur and CEO Donald Frieden. After
acquiring funds from local sources including GN Ventures and Genesis Park L.P., SAT continued expanding by moving its headquarters to the Energy Corridor (Westchase District) in 2001. Later SAT, was selected by Houston Technology Center as a member company and technology champion. Frieden will remain with the acquired company as Vice President of Mobile Solutions.
"Don Frieden and his team are deserving of their success. They have targeted an important wireless niche and stuck with it. Not a lot of flash, just a decade or so of very hard work. We have been proud to be associated with the company for the last eight years," said Paul Hobby, managing partner of Genesis Park and a SAT Corp. Board member.
Don Frieden added, "I could not have done this myself. My family, my coworkers, and our investors have all done great things to help make SAT Corp's IntelaTrac(R) the gold standard for mobile workforce management solutions."
SAT was advised by Pharus Advisors, a boutique investment bank with offices in New York and San Francisco. Separate Invensys and Wonderware press releases contain additional purchase details.
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