SINGAPORE — Invengo, a radio frequency identification (RFID) technology provider, has acquired the textile services and legacy RFID tag business from Tagsys RFID, the company reports. Terms of the deal were not disclosed.
Through this acquisition, Invengo says it extends its global footprint and product development capabilities in high value-added markets, providing outstanding growth potential 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 and custom application services business unit based in France.
The textile services business Invengo has acquired from Tagsys features RFID tags and stations and a 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, says Invengo.
Tagsys’ legacy RFID tag business also acquired by Invengo includes an array of tags and designs used in specialized applications such as airline baggage handling, document and asset management, pharmaceutical and healthcare applications.
“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,” says Jiann Hsieh, CEO of Invengo International. “In addition to our already strong position in RFID services for the library, railway, 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.”
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