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news / 1999 |
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| Kaparel purchases majority stake in PixStream CompactPCI Division to form new company |
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| August 17, 1999 – Waterloo, Ontario |
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Kaparel Corporation, formerly PixStream CompactPCI Division, today announced an agreement in principal with PixStream Incorporated allowing its employees to purchase a majority ownership stake in the division, resulting in the formation of the new company.
Kaparel Corporation will purchase the assets of PixStream’s CompactPCI business unit. A majority of Kaparel will be owned by the employees of the division and PixStream will maintain a minority ownership stake. Kaparel will develop, manufacture and globally market custom CompactPCI backplanes with high slot count, hot swap and high availability. The purchase is expected to be completed in late August and financial terms of the agreement were not disclosed. Ben Robitaille, currently Vice President of the PixStream CompactPCI business unit, will become Chief Executive Officer of Kaparel.
The sale enables Kaparel to focus solely on expanding its existing client base, although no change is expected in the day-to-day operation of either business, despite Kaparel moving to a different facility. "We are dedicated to providing our valued clients with outstanding products and the purchase of the business unit will allow us to continue doing this," said Robitaille. "Kaparel will leverage the technical expertise, broad customer base and the leading market position that it has developed as the PixStream CompactPCI division."
"By divesting a majority interest in the CompactPCI division, PixStream will be able to focus exclusively on its video networking mandate," said Tim Jackson, Chief Financial Officer and Acting Chief Executive Officer, PixStream. "We will maintain a significant ownership stake in Kaparel because we believe CompactPCI technology and Kaparel have excellent prospects."
PixStream Incorporated
PixStream develops, manufactures and globally markets hardware and software solutions that enable network service providers and enterprises to reliably distribute and manage digital video. Using PixStream solutions, high quality video and audio can be transported more efficiently over broadband networks, optimizing bandwidth and enabling customers to introduce leading-edge video services and applications. Founded in 1996, PixStream is based in Waterloo, Ontario, Canada and has offices in Ottawa, Ontario, Canada and Newport, South Wales, United Kingdom. More information is available at www.pixstream.com.
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About Kaparel |
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Kaparel is an ISO 9001:2000 registered company that develops, manufactures, and markets electronic packaging solutions and high-speed backplanes to the global Converging Communications market. From its pioneering work in CompactPCI bridge designs, Kaparel has quickly become a leader in many aspects of high-speed backplane architecture technology and has a library of over 500 high-speed custom designs including AdvanceTCA.
Kaparel's catalog of product includes a complete line of high slot count, hot swap and high availability backplanes and high quality electronic packaging products and services for telecommunications and embedded computer manufacturers. Founded in 1996, Kaparel is based in Waterloo, Ontario - Canada's Technology Triangle and is a part of Rittal International, the world's largest electronic enclosure manufacturer with offices in over 55 countries. |
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Media Contact
Michael Pichna · Marketing Specialist · Kaparel Corporation
T: 519.725.0101 Ext.232 F: 519.725.0414 · E: marketing@kaparel.com · www.kaparel.com
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