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Sarian is sold in $30m deal
Ilkley-based wireless communications specialist Sarian Systems has been acquired by a US firm Digi International for $30.5m in cash.
Founded in 1999, Sarian is a privately-owned firm that provides wired and wireless communications products for cash machines, lottery terminals and card payment systems.
It exports to 40 countries, with customers including blue chip companies such as American Express, Travelex, BP and T Mobile, Sarian will operate as a subsidiary of Digi International, retaining its management team including the three founders, Andy Hood, Robin Hudson, and Nick Monaghan and keeping its headquarters in Ilkley.
The company had sales of £5.25m across in the year to June 30, 2007.
The business was founded on Mr Hudson's kitchen table in 1999 in Steeton, near Keighley, and backed with funding by YFM Private Equity (YFM).
Managing director Mr Hood said that Digi International's global presence would enable Sarian to reach new markets in North America, South America and Asia-Pacific.