Invengo completes Tagsys takeover to merge RFID tag businesses
June 16, 2016
Singapore-based RFID technology provider Invengo has finalised the acquisition of the textile services and legacy RFID tag business from French company Tagsys RFID.
Through this acquisition, Invengo aims to extend its global footprint and product development capabilities in high value-added markets providing growth potential in the manufacturing and logistics segments, as well as textile professional rental services, healthcare and medical tracking. All new services will be managed from Invengo's new textile and custom application services business unit in France.
The textile services business Invengo has acquired from Tagsys includes LinTrak and MuTrak RFID tags and U-Door and E-Way stations, as well as a fully integrated and scalable linen inventory visibility and management IoT platform called Acuity, designed to provide digital analytics and services to laundry groups and their clients.
The RFID tag business also acquired includes an array of unique tags and designs used in specialised applications such as airline baggage handling, document and asset management, pharmaceutical and healthcare applications.
Invengo has taken 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.
"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,” said Jiann Hsieh, CEO of Invengo. “In addition to our already strong position in RFID devices for the library, railway, retail verticals, it further enhances our offering and expertise in specialised 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."
Leveraging its worldwide presence and support, Invengo plans on strengthening the expansion of the acquired Acuity system within the textile services ecosystem worldwide.
"We are beyond excitement to join Invengo," said Richard Bailly, Tagsys president. "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."
This week at the Texcare International trade fair in Frankfurt, Germany, Invengo was showing live demonstrations of the Acuity platform for linen visibility and management.