Battery Ventures Invests in Data Physics as Cornerstone of New Industrial Technologies Platform
Deal Will Consolidate Physical Property Test-and-Measurement Instrumentation Market
BOSTON, MA -- (Marketwired) -- 02/10/14 -- Battery Ventures has purchased a controlling stake in Data Physics Corp., a leading-edge technology company in San Jose, Calif. that designs and manufactures high performance test-and-measurement solutions for noise and vibration applications. In partnership with Battery, Data Physics will pursue growth organically and through acquisitions.
Terms of the transaction were not disclosed.
"We are excited by the potential of Data Physics and the broader physical property test-and-measurement market, which is fragmented and ripe for consolidation," said Jesse Feldman, a Battery general partner who is joining the company's board. "Given Data Physics' range of market-leading products, customer diversity and global brand, we feel the company can produce market-leading growth." Data Physics currently sells into sectors including aerospace, automotive, electronics and military/defense.
Battery also announced that Louis Pace, an experienced industrial tech executive and former Battery executive in residence, has been named Data Physics' new chief executive and a member of its board of directors.
Pace was previously chief operating officer of HallStar, a specialty-chemical manufacturer, as well as vice president of business development at Belden, the signal-transmission solutions provider. He also served as president of Belden's Specialty Products Division.
"Battery had developed deep domain expertise over the last decade building multi-hundred million dollar businesses in this market. I am thrilled by this opportunity to step into a leading operating role at a Battery company, and by the chance to work with the Data Physics management team and Co-Founder Sri Welaratna," Pace said.
Welaratna co-founded Data Physics in 1984 with fellow Hewlett-Packard alumnus Dave Snyder. The two built the company into a major provider of digital signal processing technology to help companies perform acoustic tests, structural tests, rotating machinery diagnostics, and vibration characteristics analysis.
"The investment by Battery represents the next stage in Data Physics' growth, and I look forward to helping take this dynamic company to the next level," said Welaratna, who will remain involved with the company.
Data Physics is the fifth active industrial-technology platform in the Battery portfolio, joining Drillinginfo, Industrial Safety Technologies, Nova Instruments and Nova Metrix. Battery is continuing to expand its investment activity in the industrial-technology markets and has completed more than 20 transactions to date across the U.S. and Europe since 2003.
Battery invests in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to buyout and invests globally from offices in Boston, Silicon Valley and Israel. To learn more, visit www.battery.com and follow the firm on Twitter @BatteryVentures.
About Data Physics
Established in 1984, Data Physics is a worldwide supplier of high performance test and measurement solutions for noise and vibration applications. Data Physics designs, manufactures and markets all the hardware and software for its lines of SignalCalc Dynamic Signal Analyzers, SignalStar Vibration Control Systems, SignalForce Electrodynamic Shakers, and SignalSound High Intensity and Underwater Acoustics products.
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