Invengo Finalizes Acquisition of Tagsys RFID Textile Services and Legacy Tag Business
Singapore, 9 June 2016 – Invengo, the Global RFID Technology Provider, today announced the finalization of the acquisition of the Textile Services and Legacy RFID Tag business from French Company Tagsys RFID.
Through this acquisition, Invengo extends its global footprint and product development capabilities in high-value-added markets providing outstanding growth potentials such as Textile Professional Rental Services, Healthcare and Medical Tracking Solutions, as well as Manufacturing and Logistics segments. All new services will be managed from Invengo’s new Textile & Custom Application Services business unit based in France.
The Textile Services business Invengo has acquired from Tagsys features industry-leading RFID tags (e.g. LinTRAK, MuTRAK) and stations (e.g. u-Door, e-Way) and an innovative, fully integrated and scalable linen inventory visibility and management IoT platform called ACUITY, specifically designed to provide digital analytics and services to laundry groups and their clients. Tags legacy RFID tag business also acquired by Invengo includes an array of unique tags and designs used in specialized applications such as airline baggage handling, document and asset management, and pharmaceutical and healthcare applications.
Invengo completely takes over both divisions, including operational, commercial and R&D personnel, which will serve to strengthen Invengo’s European presence and global talent pool. Existing clients and service contracts will also be transferred.
Jiann Hsieh, CEO of Invengo International comments: ''It is an exciting time for Invengo as this acquisition launches us into new markets with tremendous potential for innovative and robust RFID technology, specifically in the healthcare and hospitality textile services fields. In addition to our already strong position in RFID Services for the library, railway and retail verticals, it further enhances our offering and expertise in specialized RFID tag products. The acquisition of Tagsys' Textile Services and Legacy RFID tag business brings valuable resources and new talents to our global business and we are very excited about these European and Global expansion opportunities.''
''We are beyond excited to join Invengo'', added Richard Bailly, President of Textile & Custom Application Services. ''We have a long history of designing and deploying innovative and rugged solutions for complex environments such as the industrial laundry markets. Invengo's significant design and manufacturing capacities will spearhead our industry leadership, long-term track record of consistent product innovation and durability, and growth opportunities.''
Leveraging its worldwide presence and support, Invengo plans on strengthening the expansion of the acquired ACUITY system within the Textile Services Ecosystem worldwide. From June 11th to 15th at the Texcare International trade fair in Frankfurt, Germany, Invengo will showcase live demonstrations of the ACUITY 2016 Platform for linen visibility and management, in booth# F94, Hall 8.
ABOUT INVENGO TECHNOLOGY
Invengo – the global RFID technology provider – is a leading developer and manufacturer of high-quality, intelligent RAIN RFID (UHF), HF and NFC inlays, tags and connectivity solutions utilized in the Internet of Things (IoT). With a focus on RFID innovation, Invengo has created a leading product line in retail, library, (industrial) laundry, pharmaceutical, healthcare, (public) transportation and many other industries. With over 20 years of experience in RFID, Invengo is fully dedicated to enabling efficiency in applications such as ticketing, identity management, supply chain management, authentication, asset management and brand equity.
Invengo Technology Pte. Ltd, located in Singapore (with subsidiaries in the US and Europe), is the international headquarters of Invengo Information Technology Co. Ltd, listed on the Shenzhen Stock Exchange (SZSE: 002161.SZ). Employing over 600 people worldwide, Invengo is one of the largest publicly traded, RFID-oriented companies in the world, with design and manufacturing plants located in both the United States and China and sales offices spanning all major geographies.
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