FOR IMMEDIATE RELEASE
Lake Zurich, Illinois (July 18, 2013) - After a solid history of successful collaboration, Product Development Technologies (PDT), a full service product development firm, and Telefonix, a design, manufacturing and management company, have entered into a formal partnership.
The two companies have collaborated on innovative product solutions for five years, ranging from telecommunications devices for the aerospace industry to consumer electronics and a ground breaking industrial product that will be announced next month.
This collaboration has now been formalized as Telefonix took a financial stake in PDT as the original PDT founders, Mark Schwartz and Scott Semenik, regained ownership of the company.
“I’m thrilled to partner with a like-minded, forward-thinking company,” says Mark Schwartz, PDT CEO. “Telefonix has many of the same values and foundations Scott and I built PDT upon: an entrepreneurial spirit, passion for product development and drive for advancing technology and design.”
The companies followed a parallel path of growth and success through entrepreneurial drive. While Paul Burke, CEO of Telefonix, started his business in a makeshift office in his basement, Mark Schwartz and Scott Semenik would soon be working together at Motorola, dreaming of starting their own product development firm. Mr. Burke’s development of a digital retractable cord reel that allowed for the transmission of low voltage digital signals was the unique invention that propelled him out of the basement and into the global arena as a leader in cord reel and technology development. Mr. Schwartz similarly launched PDT in his home basement with Mr. Semenik with their first project: development of the iconic US Robotics Conference phone, which is still found in conference rooms around the nation.
Both companies have grown exponentially since.
Says Paul Burke, Telefonix CEO, “I truly believe that this is a partnership that makes sense for both organizations and for the marketplace. Together, we are able to offer a truly unique combination of design, industry expertise and manufacturing excellence to our customers. We look forward to building on each company’s current talents to remain at the cutting edge of the industries we serve.”
The companies will remain in their respective locations.