Bluehill ID has entered into an agreement to acquire the remaining shares of SCOLIS Technologies. SCOLIS is headquartered in Singapore with its core R&D team located in Chennai, India, and focuses on developing and manufacturing ePassport, access control & NFC enabled readers and modules as well as secure identification solutions.
Bluehill ID entered the company as an investor in April 2008 and said that after few months of excellent collaboration, the founding investors and managers agreed to exchange their holding in SCOLIS for shares in Bluehill ID in accordance with a pre-agreed formula.
SCOLIS Technologies was founded in September 2006 by a group of experienced engineers from the smart card and identification industry and was backed by a selected group of investors from the USA and Dubai.
Ayman Ashour, CEO of Bluehill ID, commented: “SCOLIS Technologies adds to Bluehill ID a very important technology foundation particularly in ePassport, physical access and NFC areas. The last few months confirmed to us that this is the right decision for all of the stakeholders and we are particularly pleased to add not only SCOLIS to our portfolio but also a group of talented and experienced investors.”