Source: Times Colonist
Carmanah buys Estonia marine lighting division
Victoria-based Carmanah Technologies has acquired marine navigation products under the EKTA brand from Cybernetica AS of Estonia. “The EKTA products will strengthen our worldwide product portfolio and allow us to provide more comprehensive single-source solutions for our marine customers,” said Carmanah chief executive John Simmons. “At the same time, the assignment of Cybernetica’s sales contracts adds to our overall market share and our position as the dominant provider in Europe.” Carmanah paid 1.35 million euros for the products. The first million is due on closing and the rest on the first anniversary of closing.