Wednesday, July 1, 2009

Corporate Buyout

Less than two weeks ago, Telemetric (my employer) had an all-staff meeting scheduled on short notice which included catered Goodwood BBQ. This was all highly unusual and many of us had suspicions that something was up. Sure enough, the meeting was hosted by two executives and a HR guy from Sensus, the company we learned was purchasing Telemetric.

Today the deal became official so I can safely blog about it. I am now a Sensus employee! Sensus is a large company (over 100x larger in revenue than Telemetric), one of whose divisions involves wireless water and gas metering. They were looking to get into power distribution (Telemetric's expertise) since that gives them a more complete product line to offer utilities. Rather than build their own business to compete with Telemetric, they opted to buy us.

Of course we're all a little wary about now being part of a big company with headquarters far away. Despite not getting huge buyout checks allowing us to retire early, it seems like this will be a good thing for all of us. The benefits and holidays are much better, plus we benefit from having much stronger financial backing. We all got to keep our jobs and we'll also be staying in Boise. We have an existing partnership with Sensus and they've been great to work with and overall they seem like they will be a good corporate parent.

For the immediate future, things will be pretty much the same as they have been but with a different company issuing the paychecks. At any rate, it seems like a pretty good outcome and I'm happy with it!

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