Advanced flow meters like VoxTrac represent over half of the global $700m market. Voxtone’s primary market segments are process and biogas monitoring, which are also very high growth segments. The global market for biogas and biogas plants was €2b in 2006 and is expected to be over €25b by 2020 (source Helmut Kaiser Consulting 2008). Many plants are low tech and easy to reproduce and design. VoxTrac’s key competence is its reliability with dirty and corrosive gases, which existing measuring devices have difficulty with.
The global market potential for Voxstone could easily exceed $100m. An interesting feature for Voxstone as an investment case is that major meter manufacturers like ABB, Emercon and Siemens have been active in acquiring new technologies to enchance their portfolio in the high-growth process instrumentation market. Revent M&A transactions in this field include Brook’s instrument acquisition of Celebrity’s Instrumentation division in 2009 (release) and Cameron’s acquisition of Jiskoot in 2008 (release). Siemens has previously made several transactions in this area (like acquisitions of Danfoss’ flow division and Controlotron). After market validation, Voxstone will becomes an attractive acquisition target for major instrumentation suppliers.