MINNEAPOLIS, Sept. 8, 2021 /PRNewswire/ — System on Module (SOM) and Embedded Solutions company Beacon EmbeddedWorks announced that the company has recently been wholly acquired by discoverIE Group plc, an international group of businesses that designs, manufactures and supplies highly differentiated, innovative components for electronics applications.
Ankur Tandon, CEO & Managing Director of Beacon EmbeddedWorks, will continue in his current position under discoverIE, as will the other members of Beacon EmbeddedWorks’ management team. «We’re excited to be joining the discoverIE Group of businesses, which will allow us to increase our focus on creating the most advanced System on Modules and embedded solutions available and help us expand our reach into the European market,» said Mr. Tandon.
Established in 1960, Beacon EmbeddedWorks (formerly known as Logic PD) has evolved into a leading provider of customized SOMs and support to regulated markets, including medical, aerospace and industrial applications. Beacon EmbeddedWorks is headquartered in Eden Prairie, Minn.
«»The acquisition of Beacon EmbeddedWorks continues our strategy of building a high quality, high margin international Group, that design and manufacture differentiated and customized electronics. Beacon has a long-established track record of supplying high quality products mostly into our core target markets and is therefore well-positioned to exploit a range of growth opportunities. We are delighted to welcome the business and all their employees into the Group,» said Nick Jeffries, Group Chief Executive of discoverIE. «With a clear strategy focused on long-term high quality growth markets, a diversified customer base, and a strong pipeline of acquisition opportunities, the Group is well positioned to make further progress on its key priorities.»
In conjunction with the ownership change, Beacon EmbeddedWorks expects to maintain their current facilities and equipment in the near term. New investments in Beacon EmbeddedWorks’ embedded products portfolio development will also continue in keeping with aggressive plans for growth.
About Beacon EmbeddedWorks
Beacon EmbeddedWorks was created to build on Logic PD’s 20-year history developing cutting-edge SOMs with new product lines and expanded capabilities. Beacon EmbeddedWorks’ comprehensive approach coordinates development and manufacturing engineers to deliver powerful technology and unwavering quality. As your new and improved embedded partner Beacon EmbeddedWorks exceeds expectations with pre-certified SOMs that are compact, secure, and customizable.
About discoverIE Group plc
discoverIE Group plc is an international group of businesses that designs, manufactures and supplies innovative components for electronic applications.
The Group provides application-specific components to original equipment manufacturers («OEMs») internationally. By designing components that meet customers’ unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long term customer relationships.
With a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation and industrial & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with targeted complementary acquisitions. The Group has an ongoing commitment to reducing the impact of its operations on the environment, while its key markets are aligned with a sustainable future.
The Group employs c.4,600 people and its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India and North America.
The Group is listed on the Main Market of the London Stock Exchange and is a member of the FTSE250, classified within the Electrical Components and Equipment subsector, with revenues of around $600M.
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SOURCE Beacon EmbeddedWorks