Fike acquires axonX
BLUE SPRINGS, Mo.--Fike, an industrial and commercial safety solutions provider, which entered the general fire alarm market two years ago, made another foray into the industry on May 4 with the acquisition of axonX, a video smoke detection company.
"Fike is strongly committed to the general fire alarm market around the world," said Jeff Moore, vice president and general manager of Fike's fire alarm business. Acquiring axonX will "give us the ability to bring this video smoke detection technology to a market that is looking for new ways to address an old problem, open flame detection."
Fike views the acquisition as another way to take market share from the big four fire providers (Honeywell, GE, Siemens and Tyco). "We want to be one of the four major holders of market share within two years," Moore said. "Bringing technology like AxonX to the market brings that goal within the realm of possibility."
Fike is a 60-year-old privately held company known for products and services that protect people and assets from fire, explosion and over-pressurization. It has 950 employees around the world and 15 business units. AxonX will become its 16th business unit. AxonX will operate as a wholly owned subsidiary from its current headquarters in Sparks, Md.
The acquisition offers axonX the best of both worlds, lots of resources and continued independence, said Mac Mottley, CEO of axonX.
"It gives us the ability to expand, to continue our R&D efforts, and access to the resources of Fike's marketing," said Mottley. "It brings us into the Fike dealer network and Fike customer base," he added. AxonX will continue to do its vertical market development, which has focused on the energy sector and warehousing.
Fike's dealer network covers the major 50 markets in the U.S. "and we're working on secondary markets. We feel the network is full of quality companies," said Moore.
Fike is going to officially introduce axonX to its dealers at the June NFPA show in Chicago. Fike's five regional managers will demonstrate axonX's products and staff to dealers from their regions at the show.