Kasalis acquired by billion-dollar tech giant Jabil
Kasalis, a Burlington-based industrial technology firm, has been acquired by publicly-traded electronic products firm Jabil Circuit Inc., headquartered in Florida.
Terms of the acquisition by Jabil (NYSE: JBL), which happened in May, were not disclosed.
The Kasalis office in Burlington will remain open and be expanded as part of the acquisition, growing headcount from 27 to about 40 within the next few months, said Irvin Stein, senior global business units director of Jabil Optics, the division of Jabil that Kasalis will now fall under.
“We brought the Kasalis group in-house primarily for the engineering talent and for the software and algorithms they’veVolumetric Efficiency developed,” Stein said in an interview.
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Jabil in June announced third-quarter revenue was $4.4 billion, up 15 percent from the same period in 2014. Its net income for the quarter was $197 million, down from $267.9 million from the same period in 2014.
Kasalis was founded in 2011 and the focus of the company has been to design and build capital equipment, based on advanced manufacturing technologies, for advanced optical systems. The company’s technology is used in micro-cameras, micro-projection devices, mobile devices, drones, sports cameras and automotive parts.
“We are growing very quickly and we have had a lot of traction with large (original equipment manufacturers) in this area,” said Justin Roe, president and founder of Kasalis.
Kasalis had raised about $1 million in investor funding from angel investors to date.