When it comes to technology, the market moves very fast and the company that thrives today may not be here tomorrow. That was the case with Interex, the company out of Wichita, Nebraska, who produced quality surge protectors for 16 years before declaring bankruptcy and dissolving. The Interex surge protector was top-of-the-line in its day when the company started in 1984. Interex specialized in Macintosh computers and supplied computer connectivity and enhancement products.
The demise of Interex began in 1997 when a former executive apparently breached his non-competitive agreement that he would not join another type of technology company after leaving Interex. The company that the executive went to work for was seen by many as anything but a competitor. However, a judge sided with Interex and forced the executive to leave the competing company.
This wasn’t exactly the start of the decline but could be seen as a foreboding event. Even over the next two years, Interex products made great climbs in the market. They developed the Web Overdrive technology, which combined power of two modems to increase download time. Then they acquired ProMedia out of Europe, which began their international expansion. This is also the time when they began making computer peripherals such as the surge protector.
By the middle of 1999, Interex was a major contributor to Macintosh accessories. Their product InterView even won an award by Macintosh. InterView captured video from a VCR or video camera and transfer it to the computer via USB cables. The attraction was the low cost of the product versus the hundreds of dollars similar products cost.
Their downslide began in November of 1999 where they laid off several workers. It was a strange event given their 93% increase in sales over the past three years, its expansion into the European market and its recent acclaim with Macintosh computers. The layoffs came after a lawsuit settlement a week earlier, which cost the company more than $2 million. Since 1993 they have been selling their surge protectors in stores such as Sam’s Club and Wal-Mart until one of its sales are presented as Watt & Co. switched out their surge protectors and the Interex USB with competitors.
By January 2000 the company had entered into bankruptcy. The reason for the bankruptcy was never made clear, but the president pointed his finger at a specific employee. A bill of $1 million plus came from a salesman who falsified orders for computer equipment. These false orders that company to purchase inventory to be sold which inevitably sink Interex in debt.
Eventually the company was purchased by Tripp Lite, a leading competitor in the surge protector market at the time. So for those of you looking for an Interex surge protector, your best bet is to head over to Tripp Lite and see what they have to offer.
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