Technology solutions specialist Panorama Synergy has bought Melbourne-based manufacturer Hydrix to strengthen its links within the defence and medical sectors.
A product engineering consultancy, Hydrix develops and prototypes Internet of Things (IoT) technology for clients around the world, including Siemens, HP, GE and Philips, as well as many Australian SMEs and start-ups.
Following the acquisition, Panorama is now relocating to the Hydrix facilities based in Melbourne’s technology corridor and also the innovation precinct in Adelaide.
Hydrix has since secured new projects worth more than $4 million for clients including the Department of Defence, the University of Queensland, and also Bivacor, the US-Australian creator of an artificial human heart.
Their work will include development on a vehicle collision avoidance system, robotic wharf inspection and automated ticketing.
The manufacturer is also working with Cook Medical, the world’s largest privately owned medical company.
“The acquisition of Hydrix provides the company with an unparralled development capability,” said Panorama’s CEO Peter Lewis.
“The Hydrix engineering team has demonstrated ability to design world-first products across multiple sectors, including medical and defence.
“I am excite by the prospect of them joining Panorama Synergy to accelerate the development of innovative IoT solutions.
“This means we will be able to directly meet the product needs of our customers in agriculture, med-tech and related sectors, [introducing] our unique sensor technology to Hydrix’s customer base.”