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A terminated deal between Triton Systems of Delaware Inc. and Nautilus Hyosung Inc. may lead to financial difficulties for Triton, according to an industry analyst. James Phillips, Triton's director of North American sales, says that is not true. "Triton will be fine. We plan to introduce a number of new products, but there could be layoffs because we staffed up in anticipation that this deal would go through," he says. Leon Majors, president of the payments systems practice for the Salisbury, Md.-based consulting firm Phoenix Marketing International, is concerned about Long Beach, Miss.-based Triton. "How is [Triton Systems] being financed? Dover wrote off Triton as a discontinued operation," Majors says. A Triton spokesperson says "discontinued operations" is an accounting term and it does not refer to the closing of the company. Triton also might have lost market share, Majors says. "When Triton and Nautilus Hyosung announced their deal, Triton's large customers might have moved to Nautilus Hyosung in anticipation they would be dealing with one company," he says. Nautilus Hyosung owns Nautilus Hyosung America Inc., which is based in Coppell, Texas. Nautilus Hyosung was unavailable to comment.
