PRESS RELEASE Smartrac to sell its Secure ID & Transactions Business to Linxens Amsterdam (The Netherlands), November 4, 2016 – RFID and IoT pacesetter Smartrac today announced that it has finalized an agreement to sell its Secure ID & Transactions Business Division to the Linxens Group. Headquartered near Paris, France, Linxens is a global leader in the design and manufacture of smartcard connectors, inlays and LED light sources. The company’s connector products are a vital component of smartcards, enabling the communications and transactions that are central to financial and public sector applications used by a wide range of consumers, including banking cards, SIMs for mobile telephony, ID and health cards, and many more. Leveraging its expertise and market position as the world’s leading supplier of RFID products, Smartrac is already transforming itself into a global leader in RFID and IoT solutions, using RFID technology and its Internet of Things platform Smart Cosmos to deliver a broad portfolio of solutions that provide unmatched value and ROI to customers along the entire value chain. “What we are announcing today sets the future direction for everyone at Smartrac. As a part of the Linxens Group, our highly successful and profitable Secure ID & Transactions business will face a bright future as a leader in Payment, Access Control & Identification technologies for maximum security and customer convenience. At the same time, Smartrac’s core business will be able to focus and accelerate its already successful transition into a leading provider of ready-made and customized RFID products and IoT-based solutions Page 1
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
PRESS RELEASE
Smartrac to sell its Secure ID & Transactions Business to Linxens
Amsterdam (The Netherlands), November 4, 2016 – RFID and IoT pacesetter Smartrac today announced that it has finalized an agreement to sell its Secure ID & Transactions Business Division to the Linxens Group.
Headquartered near Paris, France, Linxens is a global leader in the design and manufacture of smartcard connectors, inlays and LED light sources. The company’s connector products are a vital component of smartcards, enabling the communications and transactions that are central to financial and public sector applications used by a wide range of consumers, including banking cards, SIMs for mobile telephony, ID and health cards, and many more.
Leveraging its expertise and market position as the world’s leading supplier of RFID products, Smartrac is already transforming itself into a global leader in RFID and IoT solutions, using RFID technology and its Internet of Things platform Smart Cosmos to deliver a broad portfolio of solutions that provide unmatched value and ROI to customers along the entire value chain.
“What we are announcing today sets the future direction for everyone at Smartrac. As a part of the Linxens Group, our highly successful and profitable Secure ID & Transactions business will face a bright future as a leader in Payment, Access Control & Identification technologies for maximum security and customer convenience. At the same time, Smartrac’s core business will be able to focus and accelerate its already successful transition into a leading provider of ready-made and customized RFID products and IoT-based solutions that enable businesses to identify, authenticate, track and complement product offerings”, said Christian Uhl, Chief Executive Officer (CEO) and Chairman of the Management Board at Smartrac.
According to the agreement, Linxens will take over all the employees and assets assigned to Smartrac’s Secure ID & Transactions Business Division. Restricted to limited rights, Linxens will be allowed to use the Smartrac brand for the Secure ID & Transactions business for a period of up to 24 months after the sale is completed. Linxens will meet all of Smartrac’s Secure ID & Transactions contractual obligations to employees, customers and suppliers.
The acquisition is subject to regulatory approval and other customary closing conditions, and is expected to be closed by the end of calendar year 2016.
Page 1
About SMARTRACSMARTRAC is the world’s leading developer, manufacturer and supplier of RFID products and IoT solutions, providing both ready-made and customized offerings suitable for a large number of applications. SMARTRAC makes products smart, and enables businesses to identify, authenticate, track and complement product offerings. The company’s portfolio is used in a wide array of applications: access control, animal identification, automated fare collection, automotive, border control, contactless payment, electronic product identification, industry, libraries and media management, laundry, logistics, retail, public transport, and many more. Leveraging its global R&D, production and sales network, SMARTRAC combines physical products with its Internet of Things platform Smart Cosmos, empowering the ecosystem of connected things. SMARTRAC has its registered headquarters in Amsterdam, the Netherlands. For more information, visit www.SMARTRAC-group.com , follow us on www.twitter.com/SMARTRAC_NV or click here to sign up for our quarterly newsletter.
Media contactSMARTRAC TECHNOLOGY GROUPKarin FabriHead of Corporate Communications & MarketingPhone: +31 203 050 150 Email: [email protected]
Page 2
Related Documents
