Deal expands its product and service lines
CALGARY: Energy company X-Change Corp. is closing its acquisition of Guardian Telecom, a manufacturer of industrial communications equipment for the energy sector, in a $3 million deal.
The Dallas-based global energy company said the purchase will expand its product line and services in the developmental and operation of wells on leases, and the servicing of drilling and workover rigs.
Calgary-based Guardian Telecom designs and manufactures industrial communication equipment, such as hazardous area telephones, for on and offshore rigs, oil refineries, mining, nuclear and power facilities worldwide. It recently expanded its markets into petrochemical, chemical and manufacturing facilities.
The company, with 100 employees and revenues expected to top $8 million this year, has manufacturing facilities in Calgary, and has sales and technical support offices in the US, UAE and Dubai.
X-Change, a shell company, has two wholly owned subsidiaries: Caballo Blanco Communications Ltd. and PolySilicon Inc.
In March, it formed