While Red Pitaya has been opening up the test and measurement market with its low cost, open-source and reconfigurable credit-card-sized STEMlab platform, the deal is expected to bring the startup development synergies and resources to increase STEMlab's performance and capabilities. Last February, Red Pitaya's CEO Rok Mesar had commented that following the success of the STEMlab, many T&M companies had approached him to discuss possible cooperation or an acquisition, trying to expand their market beyond boxed standalone instruments.
Red Pitaya will continue to operate as a wholly-owned subsidiary of Instrumentation Technologies and will retain different identity as it serves very different market sectors.
"We are sure we can learn from their innovative approach to enter new market segments, as well as providing them with a stable development and financial platform for rapid growth”, commented Rok Uršič, Founder of Instrumentation Technologies, although one wonders why the company didn't keep the whole STEMlab development in-house in the first place. The instrument was launched through a very successful crowd-funding campaign on Kickstarter.
Red Pitaya – www.redpitaya.com
Instrumentation Technologies - www.i-tech.si