Eddyfi Technologies confirms acquisition of M2M
04/06/2018
As a world leader in advanced non-destructive testing (NDT) inspection technologies, Eddyfi Technologies has confirmed the acquisition of M2M, a renowned developer and manufacturer of phased array ultrasonic testing (PAUT) instruments for NDT.
With its head office in Paris, France, M2M has become, over recent years, the reference in high-end portable PAUT flaw detectors with the real-time total focusing method (TFM) and new products such as Gekko™ and Mantis™. M2M employs 60 people in France, the USA and China and sells to major customers in industries such as oil & gas, aerospace, power generation and manufacturing.The acquisition of M2M offers Eddyfi Technologies a unique chance to enter the broader, yet competitive, PAUT market, with the most advanced technology currently available in the world. The M2M office in China, along with its team, will now also act as a base for the group to expand in the region.
Martin Thériault, President and CEO of Eddyfi Technologies, said: “Over the past eight years, we have emerged in the NDT market by focusing on specialised NDT technologies. With innovation and a customer-focused approach, we have become a fresh and dynamic force in the market. Now is the time to enter the much larger advanced ultrasound space, a technique used by virtually all of our customers, which is also in much need of innovation and advancements. Research and development (R&D), other collateral accessories investments and the relationship with CEA will be expanded to capitalise on software, portable and systems opportunities.”
Philippe Benoist, President of M2M, said: “Up until 2014, M2M was focused on delivering PAUT systems for laboratories, testing machines and integrators. Our entry in the advanced portable market with TFM, Gekko and Mantis has been, by all means, successful. However, the harsh reality was that M2M lacked the scale and funding to really make its technology an industry game-changer. Eddyfi Technologies’ global sales and support organisation, financial strength and R&D vision were simply what M2M and its people needed to take it to the next level. In addition, Eddyfi’s business unit (BU) approach was very appealing to us. The M2M brand will remain, our location in Paris will now be the group’s centre of excellence for PAUT and we remain in control of our R&D roadmap and business model.”
www.eddyfi.com
