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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.
The transaction includes transfer of assets, as well as staff labor contracts and retirement benefits, and gives Invengo the right to use the Tagsys brand for commercial purposes.
Tagsys' motivation to sell some of its divisions to Invengo was driven by the company's growth in the textiles and industrial luxury brand and retail sectors, says Alain Fanet, Tagsys' CEO. "Clearly, these are markets where we have had big success," he states, and the company had begun considering what its next step would be.
Invengo, Fanet adds, is one of the top five RFID companies, and is among the most prominent in the library and railway markets, making it a good choice to take over the textiles division and the other product groups. "That gives us the ability to focus on retail and luxury goods," he states.
Tagsys' industrial and logistics divisions had offered products for the health-care market, as well as for manufacturing, underground pipe tracking and various asset-management systems, which Invengo will now provide as well. During the early years following the company's founding in 2001, Tagsys focused on RFID products for libraries, uniforms and niche markets, but after Fanet joined the company in 2009, it began growing into the textiles and luxury markets as well.
In 2011, Tagsys released an end-to-end RFID solution, known as the Fashion Item Tracking System (FiTS), for the fashion and apparel market, including hardware, software, integration and maintenance services (see Tagsys Offers End-to-End Solution for Apparel Industry). The firm will focus on this product and others like it.
"Due to our legacy" in the niche markets, Fanet says, customers are still requesting the design of complex tags that, in the case of industrial and textiles applications, Invengo can now provide.
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