Aiotec acquires technology company Bluewater Systems

Christchurch firm aims to become a $10m-plus company in five years

Electronics design house Aiotec has acquired embedded systems and ARM technology specialist company Bluewater Systems.

Aiotec is a privately owned company based in Christchurch. It was established in 2002 to provide electronic engineering consultancy services and product solutions to Australasian export manufacturers.

Managing director Shayne Crimp says Aiotec achieved 275 per cent growth in the last two years and has been recognised in this year’s Deloitte Asia Pacific Technology Fast 500. The acquisition of Bluewater Systems doubles Aiotec’s team to 22 staff and contractors.

Prior to the acquisition 65 per cent of Aiotec’s revenue had been generated from consultancy sales, with the remainder derived from product sales mainly to the telecommunications sector.

“Our aim is to grow the business through new product innovation, and to become a $10+m company within the next 5 years,” says Crimp.

“The acquisition (of Bluewater Systems) not only allows us to provide a broader service offering with the combination of embedded systems for ARM and non-ARM microprocessors and power electronics, it also enables us to provide a one-stop solution for clients looking to merge the two technologies,” he says.

Aiotec recently released two products for the telecommunications industry to help facilitate the rollout of fibre optic broadband. And, with assistance from TechNZ funding and the University of Canterbury, Aiotec is currently developing a new and advanced electronic platform for industrial active noise control that is due for completion in mid 2011.

“The acquisition has started to create good value for us,” says Crimp. “The hi-tech development industry can be very challenging if you don’t have the right skill set on board, so it was fortuitous that we were introduced to Bluewater Systems. There is a strong cultural fit between the two teams, and the response from everyone has been very positive.”

Having spent the last 14 years introducing ARM technology to New Zealand and building up the Bluewater consulting business, its former owner Simon Glass “felt it was time to pass the business on”.

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