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.
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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.

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