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Invengo Buys Tagsys' Textiles, Industrial and Logistics RFID Divisions
The acquired businesses will now be handled by a newly created Invengo division in Europe.
Jun 10, 2016—
Global RFID technology manufacturer Invengo has acquired Tagsys' RFID Textile Services, as well as its Industrial and Logistics Tag divisions, at a cost of €6 million ($6.8 million). The acquisition includes Tagsys' Acuity platform, which consists of ultrahigh-frequency (UHF) tags (LinTrak, BluTAG and Mutrak), RFID reader stations (such as the u-Door and e-Way), and servers for industrial laundry applications in Europe.
The acquisition, the company reports, will strengthen Invengo's ability to serve Europe's textiles sector, and will give Invengo access to Tagsys' clients and contracts in Europe and around the world. Invengo will serve Tagsys' existing customers, as well as and any new ones, from its new Textile Services (TS) division in France. Invengo is also acquiring Tagsys' legacy RFID tag business, which includes an array of tags and designs used in such specialized applications as airline baggage handling, document and asset management, and pharmaceutical and health care.
According to an Invengo spokesperson, the acquisition provides the company with the opportunity to increase its role in textile services, and to reach out to health-care and hospitality companies. Invengo's new French presence will help it to expand its Acuity linen inventory-management platform in Europe. What's more, the spokesman says, the newly acquired entities will benefit from Invengo's design and manufacturing capacities. Invengo will also investigate the possibility of adding some of Tagsys' technology and custom tag offerings to its own InPower program.
Approximately 200 customers are currently using the Acuity platform in Europe. Invengo calculates that the size of the market for laundry business on that continent will reach €290 million ($327 million) each year. In the United States, the laundry business market totals $44 billion annually. Invengo has had a limited presence in the textile leasing market, the company reports, and is interested in growing that presence both in Europe and globally, including within the United States.
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