Phoenix Contact acquires iS5 Communications: Solutions for infrastructure networks to be developed further
Phoenix Contact will strengthen its position in the field of critical infrastructure networks by acquiring Canadian-based company iS5 Communications Inc.
Blomberg, Germany, December 22, 2022
Phoenix Contact will strengthen its position in the field of critical infrastructure networks by acquiring Canadian-based company iS5 Communications Inc. As Phoenix Contact continues its way in “Empowering an All Electric Society” the takeover matches the corporate strategy ideal as it grows the company’s product and solutions range, especially in the field of infrastructure networks solutions.
“We are pleased that we will have the Phoenix Contact-Group as a strong global player on our side to further expand our business. The already existing collaboration in product and technology development will further grow by the acquisition “, says Pino Porciello, Chief Executive Officer at iS5 Communications Inc. Martin Müller, Vice President of Phoenix Contact states “The know-how of iS5 Communications Inc. enables Phoenix Contact to achieve a leading position in the market of critical infrastructure networks and to further grow the business together.”
In 2018, Phoenix Contact already invested by its Corporate Venture Capital arm, Phoenix Contact Innovation Ventures, in the company within the financing round at that time. “Since our initial investment in iS5 Communications Inc., we were able to setup and expand an intensive exchange regarding further product development and joint sales activities with our own business units at Phoenix Contact, also by involving our colleagues from Phoenix Contact USA Inc. I look forward to further leverage the know-how of iS5Com together with Phoenix Contact”, stated Marcus Böker, Managing Director of Phoenix Contact Innovation Ventures GmbH.
For Phoenix Contact the successful acquisition of iS5 Communications Inc. opens the possibility for further synergies and strengthens its position in the field of critical infrastructure networks. The already established strong technical skills in the new Canadian subsidiary transfer in a further gain and extension of the existing product portfolio with their leading product family Raptor. Furthermore, the acquisition will strengthen the presence of Phoenix Contact in North America.
iS5 Communications Inc., based in Mississauga, Ontario, offers industrial network products, services, and solutions for critical infrastructure networks where IIoT meets IT: intelligent edge, cybersecurity, and analytics. The Canadian company was founded in 2012 and currently employs more than 40 employees, with a deep stack and know-how in the field of engineering by bringing together IIoT and IT at the company's headquarters in Canada.