Fox gets its reward

Remember when the technology bubble burst in 2000?

Fort Myers-based Fox Electronics almost didn't make it through the dark days that followed. Things got so difficult during that period that executives there took the drastic step of unscrewing every other light bulb to save money.

But one expense Fox never cut back: research and development.

Despite objections from its lenders, Fox designed its way out of the downturn with new components for a variety of products, from cell phones to computers. Last year, sales totaled $23 million.

So it's surely gratifying that privately held Fox was recently acquired for $30 million in cash by San Jose, Calif.-based Integrated Device Technology.