By Yoke Har Lee
Christchurch-based Sound Logic Research (SLR) which found recent fame for developing an intelligent traffic light signalling system, has been sold for an undisclosed sum to Trans Tasman Technology NZ.
Trans Tasman Technology is part of High Technology Systems, the latter comprising a group of companies founded by former PDL executives David Cook and Don Sollitt.
Chief executive officer Mr Cook said High Technology would take SLR's development work and build a manufacturing base in Christchurch. The company forecasts that international revenue from the traffic signalling device could add up to $20 million over the next 24 to 36 months.
Paul Sintes, who started SLR 16 years ago in a garage, said he sold out because the offer was something he could not refuse.
"Once you have a business started, the business kind of runs you. I have had less and less time for research and development and had spent more and more time on running the business. Now I will be going back to what I love most, designing and researching."
He has been retained as a design consultant for Trans Tasman Technology. Mr Sintes has set up a new company, Lansdowne Resource, and promises to come up with more ground-breaking stuff.
Mr Sintes had been studying the nature of light emitting diodes (LEDs, used mainly in signs and automobiles) and its application in traffic lights.
His understanding of the nature of LEDs has led to development of a traffic light using LEDs and able to help save power bills.
Mr Cook told the Business Herald that the new owners would be looking at possibly tripling the manufacturing staff at SLR from 10 to 30 depending on how successful the global marketing efforts were.
"What we are doing with this little group we have got is give opportunities to small companies - which can grow so far but probable not go any further - to be able to further develop under our management."
Between him and Mr Sollitt, there is some 60 years of research and development and commercial experience.
High Technology Systems is still looking to buy up small companies which might fit into the group.
The company has a research and development subsidiary on both sides of the Tasman, CER Technology in Melbourne and CER Technology in Christchurch.
Trans Tasman Technology's expertise is in mechatronics, combining electro-mechanical components with electronic devices.
Mr Cook said the development of more powerful LEDs had given rise to other uses beyond neon signs to things more familiar around the home.
Traffic light whiz settles for green
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