SINGAPORE, June 9, 2016 /PRNewswire/ —
Invengo, the Global RFID Technology Provider, Today Announced the Finalization of 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 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 & 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. Tagsys’ 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, 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, 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 excitement to join Invengo,” added Richard Bailly, President 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.”
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