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Invengo Acquires 10 Percent Stake in SML
Global RAIN RFID technology provider Invengo has announced that it has acquired a 10 percent stake in SML Holdings Ltd., a supply chain and retail technology solutions provider based in Hong Kong. Invengo says it has invested in SML to establish optimal synergy between the two companies in such areas as RFID products and solutions, as well as marketing and sales.
Combining Invengo's RFID products and solution expertise with SML's retail technology and global reach, Invengo reports, will strengthen the global leadership position of both companies in apparel inventory management solutions for the retail sector. Specifically, the two businesses will enhance their efforts to help retailers improve inventory accuracy, in-store experiences, omnichannel delivery models and supply chains.
SML has a presence in more than 30 countries and manufacturing facilities worldwide, and offers a variety of products and services that include product branding and labeling, RAIN RFID tag solutions, retail RFID software solutions and data-management services, in addition to anti-counterfeiting and product packaging design and engineering. Customers include Levi's, American Eagle, Ann Taylor, Gap, Tesco, Best Buy, Target, Wal-Mart and Adidas.
"We have admired SML for years as they built a world-class data management system to support the global expansion of their locally based service bureaus," said Jiann Hsieh, Invengo International's CEO, in a prepared statement. "Coupled with an excellent track record in on time delivery and price efficiency, an experienced and highly-valued management team and in-company know-how, we are in an excellent position to benefit in this fast-moving growth market."
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