A fast-growing Kanata North tech firm is now part of the Ametek family after the U.S-based company announced it was acquiring Crank Software with an eye to accelerating the local firm’s path to new global markets.
Known for its design of graphical user interface software – typically found in phones, cars and almost anything with a touch screen – Crank Software has been on an upward trajectory since the company’s inception more than 13 years ago.
The 40-person tech company has partnered with Amatek in the past, incorporating its screen display technology in several of the company’s projects.
While Crank’s executives were not actively seeking to sell the company, they say they saw an opportunity to quickly reach new customers by joining forces with Ametek.
“Crank Software is an exciting acquisition for Ametek and an excellent addition to our growing portfolio of software solutions,” said Ametek chairman and CEO David A. Zapico. “Their award-winning Storyboard platform and service capabilities are positioned well to capitalize on the accelerating demand for smart, digitally enabled devices across a variety of end markets.”
The acquisition will help Crank tap into new markets and customer bases in Europe and Asia, thanks to Ametek’s international partners and annual sales reaching nearly US$5 billion.
While the partnership will catapulte Crank Software into the international market, the Kanata North company will remain a standalone business in Ottawa.