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Jan 1, 2020 10:30 AM By: Cochrane Today Staff
4IIII INNOVATIONS EXPANDS WITH ACQUISITION OF ONTARIO TECH COMPANY
4iiii Innovations has contributed to growing Cochrane’s reputation as a technology hub with a recent acquisition that will see it expand its range of products while bringing more jobs to the community.
On May 7, the local tech company specializing in outdoor running and cycling performance monitors announced it had acquired STAC Performance, which will add a new line of indoor monitoring technology to 4iiii’s list of products.
Kip Fyfe, 4iiii president and CEO, said the acquisition provides synergy with 4iiii’s current product line.
Aside from the benefits to 4iiii Innovations’ business model, the acquisition will have direct benefits to the local economy.
STAC Performance’s operations, previously based in Waterloo, Ont., will relocate all six of its employees to Cochrane and Fyfe said another six to 12 new jobs will result from the expansion.
He added all of the employees have chosen to live in Cochrane rather than Calgary.
Fyfe attributes Cochrane’s location and culture as a factor in the successful buyout.