FreightWatch International Bought by Sensitech
Austin-based Freightwatch, a risk management services provider which many pharma companies have ties to, has recently been acquired by Sensitech Incorporated.
The cargo security firm — which moved from Ireland to Austin in 2001 — was bought by global temperature monitoring company Sensitech Inc., the Austin American-Statesman reports.
The financial terms of the purchase by Sensitech Inc. were undisclosed.
FreightWatch, which operates in five countries, has 200 customers primarily in electronics, life sciences, tobacco and alcohol and luxury goods business. The company will continue operations as a subsidiary of Sensitech, and Barry Conlon will remain as CEO.
Sensitech is a leader in providing cold chain management services to companies around the world that ship temperature sensitive cargo. As part of UTC Climate, Controls & Security, a unit of United Technologies Corp., and with more than 30 sales, service and distribution locations around the world, Sensitech’s well-established ability to deploy and support technology-based, cargo monitoring solutions on a global scale will be a great asset to support FreightWatch customers who are increasingly focused on logistics security from a global perspective.
"They’ve got a far bigger global footprint than we have, and they’ll support us in our growth plans," he said. "We are in growth mode and have been for some time and this will help us accelerate that," said Conlon.
Sensitech’s strength in product condition monitoring, coupled with FreightWatch’s strength in logistics security, product integrity and visibility will offer an exciting option for companies seeking supply chain security solutions. FreightWatch and its more than 350 employees will continue to operate under the existing management team, with FreightWatch reporting to Sensitech.
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