Coda and Colmek to mergeCompany News // October 5, 2000
Coda Technologies, based in Edinburgh, UK, produces high quality imaging systems for sidescan and shallow seismic sonar for acquisition, interpretation, processing and reporting of data for the hydrographic industry. Over the last four years Coda has captured the majority of the North Sea and much of the Asianmarketplace for sonar systems.
Colmek Systems Engineering has its headquarters in Salt Lake City and provides sophisticated technological solutions producing high-quality imaging equipment used to locate, identify and classify objects in deep water. Colmek's clients are predominantlyagencies and companies in the defence sector and among its achievements was participation in the successful search for the Titanic.
"I'm extremely excited about the potential for the new company," Managing Director of Coda Technologies, Dr Ceri Reid, said. "With Colmek's penetration of the military market in the US, and Coda's command of the commercial survey market world-wide, we should be unbeatable."
Tom Hilton, President of Colmek, agreed: "Coda's excellence in the software field, and Colmek's fund of experience in hardware and systems integration should be a winning combination," he enthused. Tom has been named as President and CEO of the new company, with Ceri serving as Managing Director of Coda Colmek in the UK.
The move will bolster the service and support for Coda's commercial survey systems in the US, and open markets for Colmek's systems and turnkey engineering capabilities worldwide.
Dr Reid said "This offers tremendous backup for our existing sales channels in the US, and guarantees that US customers for our systems will continue to receive the excellent technical support for which Coda is renowned."
Software and product development for the new company will continue to be based in Scotland, while hardware design and military sales will be run out of Salt Lake City.
"When I first visited Colmek, I realised that the two companies were a natural fit," said Ceri Reid. "We've got almost no overlap or competition between us, and complement each other almost perfectly. The thing I like best about this is that there's going to be no change of focus for our product developers - the team in Edinburgh can continue to concentrate on developing and supporting the best acquisition systems on the market. We're just adding an ability to sell into military markets and to develop the software for more specialised applications."
Tom Hilton agreed: "We see enormous synergies coming out of this merger. I expect to have to expand the technical teams in both the UK and the US, in order to benefit from the potential we can unleash together. The customers of both companies can expecteven better support, and faster development of new products."