Identive Group has entered an agreement with FCI SA to acquire FCI’s Smartag subsidiary in a deal set to close during November 2010, subject to closing terms and conditions.
Smartag specialises in high performance design and production of high frequency (HF) and ultra high frequency (UHF) RFID transponders and inlay-based solutions including labels and tags used for asset tracking, cards and stickers used for ePayment and ticketing transactions, and NFC labels used to enable secure payments with mobile devices.
“Smartag is a perfect fit for Identive; it complements our European-based transponders and components business with similar capabilities in Singapore, opening up new opportunities and channels in the Asia Pacific market while adding needed manufacturing capacity to our group,” says Ayman S Ashour, chairman and chief executive officer of Identive Group. “Having two manufacturing sites in different key markets gives us additional flexibility and the increased capacity will also help fuel our growth in emerging technologies such as RFID-based cashless payments, where our solutions are experiencing rapid growth.”
“We are excited to join the Identive Group, which has a strong focus on the RFID industry. We have known the Identive team for many years and are pleased to be joining them as colleagues,” says Tian Siong Lian, co-founder of Smartag.