Qualmark Corporation (“Qualmark”) today announced that it has entered into a definitive merger agreement with ESPEC Corporation, headquartered in Osaka, Japan, whereby Qualmark will become a wholly-owned subsidiary of ESPEC. Completion of the transaction is subject to the approval of the shareholders of Qualmark and other closing conditions. A special meeting of shareholders of Qualmark is scheduled for December 16, 2015.
Mr. Andy Drenick, President and Chief Executive Officer of Qualmark stated, “We are pleased to provide liquidity for Qualmark shareholders and to increase our capabilities for customers, employees, channel partners and suppliers. Being part of the ESPEC group will provide access to highly advanced compressor-based refrigeration systems which can be incorporated into Qualmark’s industry leading HALT/HASS solutions. Qualmark Corporation will continue to be a Colorado corporation, will retain all employees, and continue to operate in its Denver facility as a standalone subsidiary of ESPEC Corporation.”
The benefits of a Combined Environment Accelerating Testing system have been realized by Qualmark’s Global 100 customer base in 33 countries. Combined Environment Accelerated Testing has the proven benefits of reducing product development time and costs, reducing warranty costs due to infant mortality failures induced during production phase, and improving product Reliability and Quality.
As manufacturing and design technology have made significant advances over the years, the traditional testing regimes have not reflected an enhanced ability to reveal designed in and production induced failure modes that result in product warranty spikes or worse, product recalls. Qualmark’s Combined Environment Accelerated Testing methodology – HALT and HASS have been providing that enhanced ability for product reliability and quality improvements for more than 20 years.
“The merger will offer Qualmark customers unprecedented value by integrating the capabilities of ESPEC, a highly respected and industry leader, into Qualmark’s Combined Environment Accelerated Testing System” said Mr. Alan Perkins, VP of Sales and Marketing.
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