Aetrex acquires Fitracks, gains control of proprietary footwear technology - SNEWS

Aetrex acquires Fitracks, gains control of proprietary footwear technology

Aetrex Worldwide, Inc. announced today that it acquired Fitracks Inc., the world’s leading manufacturer of foot scanning hardware devices for the footwear industry.
Author:
Updated:
Original:

Teaneck, NJ (June 23) – Aetrex Worldwide, Inc. announced today that it acquired Fitracks Inc., the world's leading manufacturer of foot scanning hardware devices for the footwear industry. The acquisition is a noteworthy step for Aetrex, who now has full ownership and control over the patented footcare technologies that are central to provide consumers with the benefits of customization at the retail level.

“Aetrex products are designed to offer consumers fashion forward footwear packages that are customized for the individual. Our iStep technology line has always been the centerpiece of that customization,” said Larry Schwartz, CEO, Aetrex Worldwide, Inc. “With the Fitracks acquisition we immediately add top programmers and engineers to the Aetrex technology team. We are confident that this will expedite the development of the technology needed for us to continue to revolutionize the footwear industry moving forward.”

Aetrex first partnered with Fitracks in 2001 to create iStep, its patented foot scanning technology for both the retail and medical communities. Together the companies developed the technology in order to help people identify their arch type, shoe size and pressure points and to custom select the ideal footwear and orthotics for their feet. Launched in 2002, iStep is now easily the leading digital foot analysis system, and is offered as a free service to consumers at more than 4,500 locations throughout the world.

“Aetrex has always understood the benefits of our technology to footwear retailers and professionals,” said Noam Danenberg, Fitracks former CEO, who will remain in an advisory role. “We are excited about joining the Aetrex team and are confident that this move will help ensure that consumers throughout the world can benefit from our unique technologies.”

As a result of the acquisition, Aetrex acquires numerous foot scanning technology patents, gains an experienced team of experts with varied backgrounds and secures opportunities to extend the program to more markets throughout the world.

About Aetrex Worldwide, Inc.
Aetrex Worldwide, with over 25 Certified Pedorthists on staff, is the industry leader in pedorthic footwear, the leading manufacturer of mid-priced orthotics and the No. 1 provider of foot scanning and measuring technology. The $60-million dollar corporation, founded in 1946 and privately owned by the Schwartz family for three generations, is comprised of three divisions – Aetrex Performance Products, Aetrex Technology & Education, and Apex Therapeutic Footcare. The company currently employs 180 people and is headquartered in Teaneck, NJ. For additional information, go to www.aetrex.com.

Related

Samsonite Group Announces Agreement to Acquire A Controlling Interest in Saxoline

SANTIAGO, Chile and LONDON -- Samsonite Group (BULLETIN BOARD: SAMC) , the worldwide leader in travel solutions, announces today that it has signed an agreement to acquire a controlling interest in Saxoline, the leading distributor of travel goods in Chile.The acquisition of ...read more

LaCrosse Footwear agrees to acquire END Footwear

PORTLAND, Ore. – LaCrosse Footwear, Inc. (Nasdaq/NMS: BOOT), a leading provider of branded work and outdoor footwear and apparel, announced Friday, May 8, that a newly-formed subsidiary has entered into a definitive agreement to purchase certain assets of Environmentally Neutral ...read more

CenterStone Technologies Acquires Indra Technology

CenterStone Technologies, Inc., an internationally recognized developer of Web-based sales order management (SOM) software for vendors that sell consumer brands through specialty retail channels, announced the purchase of the assets of former competitor, Indra Technology, Inc., ...read more

Implus Acquires Kako ICEtrekkers

Implus is proud to announce the company's acquisition of Kako ICEtrekkers, a leading provider of heavy duty footwear traction devices that includes the ICEtrekkers Spikes, Chains, and Diamond Grip lines. This latest addition to the Implus family of brands directly complements its ...read more

Outlast Technologies Acquired by Golden Equity Investments

Boulder, Colo. — Outlast Technologies, the leader in heat and moisture management, announces the company has been acquired by Golden Equity Investments, (GEI), a Colorado private equity firm that invests in operating businesses. Outlast customers and partners can expect to ...read more

Athleta to be acquired by Gap

SAN FRANCISCO--Gap Inc. (NYSE: GPS) announced today that it has agreed to acquire Athleta Inc., a popular women's sports and active apparel company based in Petaluma, CA, for about $150 million in cash.The acquisition will allow Gap Inc. to enhance its presence in the growing $31 ...read more

New Balance Footwear Gains Traction with GORE-TEX Brand Alliance

Boston-based New Balance Athletic Shoe, Inc. announced today a new strategic partnership with W.L. Gore & Associates, the maker of GORE-TEX® Guaranteed to Keep You Dry® fabrics. The partnership comes as New Balance launches its Outdoor initiative at the Winter Outdoor Retailer ...read more

Thule acquires Case Logic Inc.

Malmö, April 30, 2007 - Thule AB, the world leader in Sports Utility Transportation, acquires Case Logic, Inc. and all subsidiaries of the US based storage and organization solutions company. Case Logic is a leading player of storage solutions and lifestyle accessories in both ...read more

Keen Footwear Introduces eVENT® Fabric Technolog

As SNEWS® first reported in its January 19, 2006 story Event scores with Keen as footwear company opts for road less traveled Keen Footwear is teaming up with eVENT Fabrics to offer four new waterproof/breathable styles of footwear in their Fall 2006 collection. These styles ...read more