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Identec Group Adopts New Growth Strategy to Go With Its New Name
The owner of Identec Solutions and eight other RFID software, hardware and technology firms expects to gain synergies from its various divisions, and hopes to acquire additional companies around the globe.
Amann says his interest in radio frequency identification began when he and Zumtobel started looking into the technology in 2004. "After surveying the RFID industry," he states, "we came to the conclusion that it was a major growth opportunity about to happen. Perhaps we were a little early in our assumption, but we have been quietly building our group over the past six years, and now it is beginning to realize its potential, along with the RFID industry."
The second strategy, Amann adds, is to introduce the necessary capital, as well as operational and strategic support, to help its member companies grow. And the third is to implement technology, marketing, administrative and customer-sharing synergies across those businesses.
As part of the third strategy, marketing their own solutions, four of Identec Group's member companies—Identec Solutions, InSync Software, Beverage Metrics and Hothead Technologies—showcased their inter-relationships at RFID Journal LIVE! 2011, held last week in Orlando, Fla. At the conference, Beverage Metrics and Hothead Technologies demonstrated their products, which employ software from InSync and hardware from Identec Solutions. Hothead Technologies and Beverage Metrics, for their part, provide InSync and Identec Solutions with access to specific vertical markets. That, Zumtobel says, is the best example of cross-fertilization.
The push to grow the company's full-solution capabilities come as the RFID industry is showing signs of undergoing further growth in the near future. "The market seems to be moving to embrace RFID, particularly active RFID," Amann says. "We've come through a tough [economic] time in the industry. Now is the time that people are ready to embrace some of these solutions, and we are able to provide them better than anyone else before us."
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