IWI, Inovar Merge to Form inthinc for Improving Driving Safety
SALT LAKE CITY - MAR. 4, 2008 - Logan, Utah-based Inovar, Inc. a world-class Contract Electronic Manufacturer has merged with SALT LAKE CITY-based IWI, designer of "black box" and other technologies to improve automotive and driving safety. As a result of the merger, a new company has been formed called inthinc™.
"Our goal is to deliver solutions that save lives by improving driver behavior," said Todd Follmer, chairman and CEO of inthinc. "We are creating a new space for driving safety. This merger instantly elevates the opportunities available for inthinc employees and clients by combining a first-rate manufacturing infrastructure with an innovative product design and development team. We are now able to efficiently develop and manufacture new driving safety solutions and bring them quickly to market."
inthinc's proven technology is in use with many of the world's most safety-conscious companies in industries such as oil and gas, transportation and auto racing. The same core technology is being used in the development of a groundbreaking product to mentor teen drivers and improve driving behavior and safety.
"The merger brings an infusion of resources that will enable the company to expand and easily accommodate the needs of all our current and future clients," said Blake Kirby, president and chief operating officer of inthinc. "Organizations in disciplines ranging from commercial and consumer products to military and space applications turn to inthinc's Inovar division to build and refine the highest-end technology. We are proud of our award-winning legacy in manufacturing and will continue to meet our client's exacting demands."
Employees from both companies were retained post-merger, plus additional staff members have been added. The total workforce is now approximately 310, and current plans are to increase the employee count an additional 30 percent by the end of 2008.
inthinc is headquartered in SALT LAKE CITY in the former IWI offices and maintains all manufacturing and certain financial and administrative operations at the Inovar facility in Logan, Utah. inthinc executives include:
- Todd W. Follmer, chairman and chief executive officer (former CEO of IWI)
- Blake Kirby,president and chief operating officer (former CEO of Inovar)
- Jeffrey M. Harvey, executive vice president and chief administration officer (former COO of IWI)
- Michael Olsen, vice president and chief financial officer