Phoenix Contact announced Jan. 19 that it’s acquired iS5 Communications Inc. in Mississauga, Ontario. The company provides industrial network products, and specializes in services and solutions for critical infrastructure networks.
“iS5’s expertise enables Phoenix Contact to take a leading position in the market for critical infrastructure networks and further expand the business together,” says Martin Müller, VP of Phoenix Contact. “Cybersecurity and data analysis play a strategically vital role in this field.”
iS5 was established in 2012 and employs more than 40 people, who specialize in bringing IIoT and IT together and have engineering expertise. Phoenix Contact invested in the company in 2018 through its venture capital company, Phoenix Contact Innovation Ventures, as part of its round of financing at the time. Building on this, product development and joint sales activities have already been initiated through the participation of Phoenix Contact USA Inc.
“We’re pleased we have a strong global player to further expand our business with Phoenix Contact on our side,” says Pino Porciello, CEO at iS5. “Our existing cooperation in product and technology development will continue to grow as a result of the acquisition.”
