CFX TECHNOLOGIES INC.
BACKGROUNDER
INTRODUCTION
CFX Technologies Inc. (CFX) was established recently as a holding company to oversee the activities of Rubicon Inc. and Customplex Inc., two related high-technology companies which have a September 30 year end. Ted Wismer holds 70% of the CFX stock through Wismer
Investments Inc., while Putnam Investment Corporation Inc. and Salinger Investment
Corporation Inc., two venture capital companies, each hold 15% (see Appendix 1). These two firms invested a total of $3 million in CFX, largely based on Wismer’s extremely successful track record. Rubicon is a wholly-owned subsidiary of CFX, and Customplex is held equally by
Adams & Vermeil Investments Inc. and CFX. All of these companies have their head offices in the same city in Canada.
RUBICON INC.
OVERVIEW
In 1987, Ted Wismer, an engineer, who is now 46 years old, established Ted Wismer &
Associates Computing Inc. (TWC). At that time, the company’s primary activity was the installation of building automation equipment that controls air quality, temperature and humidity in commercial, industrial and institutional offices and in private residences. Over time, the company increasingly evolved into a research corporation, fueled primarily by Wismer’s unique ability to develop new building automation equipment and tools and an initial version of a building automation software program. In 1993, TWC’s name was changed to Rubicon Inc.
Currently, it primarily operates in and serves the province in which it is situated.
In conjunction with the development of technological applications in the building automation industry, Rubicon also developed a technical subcontracting business whereby it undertook various research and development projects on behalf of other companies. One such project involved Rubicon developing equipment and software for Customplex Inc. It was through this subcontractor relationship that Ted