The Phoenix Contact Group has acquired iS5 Communications, a Canadian company based in Mississauga, Ontario. As a provider of industrial networking products, iS5 specialises 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 to further expand the business together," explains Martin Müller, Vice President of Phoenix Contact. Cybersecurity and data analysis in particular are occupying an increasingly strategic position there.
iS5 Communications was founded in 2012 and currently employs more than 40 people who specialise in bringing together IIoT and IT and have expertise in engineering. Phoenix Contact already invested in the company in 2018 through its venture capital company Phoenix Contact Innovation Ventures as part of the financing round at the time. Building on this, product development and joint sales activities have already been initiated, also through the investment of Phoenix Contact USA Inc.
"We are pleased to have a strong global player at our side with the Phoenix Contact Group to further expand our business," emphasises Pino Porciello, Chief Executive Officer of iS5 Communications. "The existing cooperation in product and technology development will grow further through the acquisition."