EANS-News: Identive Group Inc.
Identive Group announces closing of Smartag
acquisition
Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
Mergers - Acquisitions - Takeovers
Santa Ana, Calif., Ismaning, Germany and Singapore, November 22, 2010 (euro adhoc) - Identive Group, Inc. (NASDAQ: INVE; Frankfurt Stock Exchange: INV), a provider of products, services and solutions for the security, identification and RFID industries, today announced the closing of its acquisition of Smartag, a Singapore-based manufacturer of RFID inlays and inlay applications. Smartag complements Identive´s European-based transponders and components business with similar capabilities in Singapore, opening up new opportunities and channels in the Asia/Pacific market while adding needed manufacturing capacity to the Company.
Identive acquired Smartag and an associated portfolio of RFID and related patents and other intellectual property from the France-based group, FCI SA.
"The transaction has proceeded smoothly and rapidly and we are very pleased that Smartag has now joined Identive Group. Our post-acquisition team has already begun to implement the integration plans for this newest acquisition," said Ayman S. Ashour, chairman and chief executive officer of Identive Group. "With our TagStar manufacturing capabilities already fully leveraged, the addition of Smartag brings critical capacity and additional flexibility to the group. It also provides an important launching point to support Identive´s increasing activity in the Asia/Pacific region."
Smartag specializes in high performance design and production of high frequency (HF) and ultra high frequency (UHF) RFID transponders and inlay-based solutions including labels and tags used for asset tracking, cards and stickers used for e-payment and ticketing transactions, and NFC labels used to enable secure payments with mobile devices. Smartag´s ability to utilize multiple antenna technologies and designs allows them significant versatility in customizing solutions for different applications.
About Identive Group Identive Group, Inc. (NASDAQ: INVE; Frankfurt Stock Exchange: INV) is an international technology company focused on building the world´s signature group in secure identification-based technologies. The businesses within Identive Group have deep industry expertise and are well-known global brands in their individual markets, providing leading-edge products and solutions in the areas of physical and logical access control, identity management and RFID systems to governments, commercial and industrial enterprises and consumers. Identive´s growth model is based on a combination of strong technology-driven organic growth from the businesses within the group and disciplined acquisitive development. For additional info visit: www.identive-group.com.
end of announcement euro adhoc
Further inquiry note:
Herr Fabien B. Nestmann
Tel.: +49 89 9595-5544
E-Mail: investorrelations@identive-group.com
Branche: Computing & Information Technology
ISIN: US45170X1063
WKN: A1C0ZG
Index: Prime All Share, NASDAQ
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
New York / regulated dealing