IRISS acquires Delta T Engineering
IRISS announces the acquisition of New Jersey-based Delta T Engineering, a 25-year-old privately held company. Delta T Engineering predominately develops a wireless monitoring system designed to detect temperature increases and prevent electrical equipment failures within electrical enclosures caused by poor connections and overloaded circuits.
Terms of the acquisition, effective January 1, 2014, include all the rights to trademarks, brand names, certifications, domain names, inventions, patents, registrations, copyrights, inventory, intellectual property, licenses, royalty fees, source code, object code, documentation, and trade secrets. IRISS will move the company to its headquarters location in Bradenton, FL, and will hire new engineers and assemblers locally to accommodate additional product offering.