OnQ, Leviton Call Off Merger Plans
Just days before its effective date, OnQ Technologies and Leviton Mfg. Co. have called off their plans to merge, officials from both companies said.
The initial announcement was made in January that Leviton’s Integrated Networks (LIN) and Decora Home Controls business would be integrated with OnQ’s line of structured wiring products, creating Leviton OnQ. The new entity was going to combine the resources of both organizations in sales and marketing, operations and manufacturing by May 1.
But officials said the merger is no longer in the best interest of either company since final-hour details could not be reconciled. “Despite substantial efforts by both organizations, we could not agree to final terms and conditions necessary to ensure future profitability and the ability to deliver quality products, excellent service and targeted programs to our customers,” stated OnQ President Doug Fiske in a letter sent to the structured wire company’s customers.
“It is disappointing for all who have been involved in the transition process, however, in the final analysis OnQ shareholder and employee interests could not be met,” Fikse said.
Now that the plans have been called off, OnQ will remain to operate as OnQ Technologies Inc., with the same employees, products and distribution channels.
Fiske said despite calling off the merger, there is no ill will toward electrical wiring provider. “We have a tremendous amount of respect for the Leviton management and transition team. Together we would have been a challenging force in the structured media marketplace.”
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