Technology | 2009.11.10
Calnetix Spin-off Direct Drive Systems Acquired by FMC Technologies
CERRITOS, Calif.--(BUSINESS WIRE)--Calnetix, Inc., a global leader in energy efficient high speed motor and generator technologies, components and systems, announced today that its former subsidiary Direct Drive Systems (DDS) has been acquired by FMC Technologies (NYSE: FTI) for approximately $120 million in cash. DDS was created in 2003 as an internal Calnetix business unit to leverage Calnetix’s proprietary core technologies into high-speed motor/generator systems above 1.5MW. Calnetix&#
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