AMIRIX Systems Inc., a provider of customized embedded systems design services, and VEMCO Limited, a market leader in the design and manufacture of underwater acoustic telemetry equipment, announced their merger today. In the deal, VEMCO becomes a division of AMIRIX.

June, 2003 -- AMIRIX Systems Inc., a provider of customized embedded systems design services, and VEMCO Limited, a market leader in the design and manufacture of underwater acoustic telemetry equipment, announced their merger today. In the deal, VEMCO becomes a division of AMIRIX.

According to Doug Pincock, Founder and Chairman of AMIRIX, the company has been evaluating various product concepts that would complement AMIRIX's traditional design services offering.

"To merge with a world renowned company such as VEMCO that already has an established, profitable product line was just the opportunity we were seeking," said Dr. Pincock. "AMIRIX also has a long history of providing enhancements to the VEMCO product line and is well acquainted with the technology."

That history dates back some 30 years when Dr. Pincock, then a professor at the University of New Brunswick, developed innovative technology in the field of underwater acoustic telemetry. One of his student assistants who played a key role in the research was Fred Voegeli. This research generated such interest within the industry that Dr. Pincock encouraged Voegeli to commercialize the product and VEMCO was born. Their innovative design of underwater telemetry became the basis for a wide range of products sold around the world today.