Hand Tools Maker Zircon Acquires Harmony Energy Tech - Modern Distribution Management

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Hand Tools Maker Zircon Acquires Harmony Energy Tech

The combined company will do business under the name Zircon and will be centered on leveraging Zircon’s ASIC processor technology.

Campbell, California-based electronic hand tools company Zircon Corporation on April 20 announced it has finalized a merger agreement with Harmony Energy Technologies Corp.

The merger closed April 14, according to a Zircon news release. Financial details were not disclosed.

The combined company will do business under the name Zircon and will be “centered on leveraging Zircon’s sensor-based, ASIC processor technology and patent portfolio, to accelerate growth by expanding its electronic hand-tool product line, entering new markets globally and launching a data, IP and technology licensing business,” Zircon said in its announcement.

“Backed by our talented team, proprietary technology and state-of-the-art manufacturing facilities, we believe we have ample opportunity to expand our business and deliver profitable growth,” said John Stauss, CEO of Zircon. “Through this merger and a subsequent public listing, we strengthen our ability to execute on our growth plan and move forward with new technological solutions to a wider range of global markets.”

Harmony is a U.S. Securities and Exchange Commission reporting company, and Zircon said it expects the merger with Harmony will allow it to “accelerate the process of accessing the U.S. capital markets as a publicly traded company.”

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