Roughly a month ago, we heard that CoolIT Systems sealed the deal with another round of financing from its original angel investors plus the newcomer, iNovia Capital. Since the amount of money was really low when it comes to advanced stage, we thought it was recession etc.
But it turns out that CoolIT was only a little bit short on cash to complete the acquisition of Delphi Thermal Liquid Cooling. The acquisition includes all of the company's IP, machinery and equipment. This is a massive coup for CoolIT and PC liquid-cooling industry as such.
Delphi TLC was a part of Delphi, the huge automotive empire that produces car parts for majority of cars in the world. When the recession kicked in, Delphi had to cut down and ultimately, started selling the family jewelry.
I remember being briefed by Delphi TLC on the subject of micro-fins and how they are going to change the world of PC cooling sometime in 2003, three years before CoolIT stepped onto the limelight. Delphi's concept was nice, but had a lot of issues and the company went to refocus their efforts, yielding in excellent results in their cooperation with Koolance and many other liquid-cooling players.
But, the times have changed, as CoolIT now owns the IP, machinery and equipment. This means that CoolIT could go after the companies that used Delphi's technologies, but we hope that CoolIT won't lose time on lawyers and rather use the machinery to really crank down the prices of liquid cooling. Delphi TLC was a giant on itself, and now a small and nimble player from Canada rode it and bought Detroit's finest. Fine move guys.