Cantronic Systems Inc. has sold its North American thermal imaging business to focus on its security and video surveillance business in China.
May 2, 2011
by PLANT STAFF
VANCOUVER: Cantronic Systems Inc. has sold its North American thermal imaging business to focus on security and video surveillance in China.
The $5.7 million sale includes its thermal imaging operations located in Coquitlam, BC and QWIP Technologies Inc. in Brea, Calif.
The buyer is Skytech Systems Inc., a private company located in Vancouver that is controlled by a current mid-level employee of the North American business, who will no longer work for Cantronic now that the sale is complete.
Skytech Systems Inc. will change its name to Cantronic Systems (Canada) Inc.
“We will continue as a Canadian-based company… but operating primarily as a provider of solutions and key technology components for IP-based network video surveillance in the Chinese market as well as for OEM/ODM customers and partners worldwide,” said James Zahn, president and CEO of the Vancouver-based Cantronic Systems.
He noted the Chinese government’s intention to implement video surveillance and alarm systems throughout nearly all the country’s 2,300 cities and towns as part of its 2011-2015 plan, calling it “a multi-billion dollar market opportunity.”
Cantronic will continue to use some of the thermal imaging technologies of the North American business for commercial security and surveillance applications (excluding defense applications) outside of North America.