[04/02/12]
SMARTRAC recently announced the completion of the acquisition of UPM's RFID business following clearance by all competent authorities.
SMARTRAC and UPM-Kymmene Corporation entered into an agreement on December 22, 2011, under which SMARTRAC takes over UPM RFID while UPM-Kymmene Corporation obtains an indirect economic interest in SMARTRAC of 10.6% via OEP Technologie B.V., a holding company controlled by One Equity Partners and one of the major shareholders of SMARTRAC.
UPM RFID is a leading supplier of passive RFID products specializing in the development and high-volume production of HF, NFC, and UHF RFID tags and inlays for use in a broad range of RFID applications. UPM RFID consists of three companies located in Finland, the United States and China. As part of the integration of UPM RFID into the SMARTRAC Group, the subsidiaries will change their company name to SMARTRAC.
The UPM RFID transaction provides SMARTRAC with a strong product offering for NFC and UHF RFID tags and inlays and adds additional manufacturing capacity to SMARTRAC's global production network.
"We are very pleased to welcome the very experienced and capable team from UPM RFID on board," said Dr. Christian Fischer, CEO of SMARTRAC. "With the completion of the transaction, we are now in the excellent position to support customers with the best product portfolio, the broadest technology base, the best R&D capabilities, the largest production capacity over all frequencies, and the best team in the global RFID-industry. Together, and with our unique company spirit, we will be able to successfully shape the coming years of excellence, leadership, innovative power, and success."
The combined business activities furthermore aim at delivering customers the best service, highest quality, innovation, and best value based on SMARTRAC's proven and dedicated business model as a developer, manufacturer, and supplier of RFID transponders and inlays.
About SMARTRAC:
SMARTRAC is the leading developer, manufacturer, and supplier of RFID and NFC transponders and inlays. The company produces ready-made and customized transponders and inlays used in access control, animal identification, automated fare collection, border control, RFID-based car immobilizers, electronic product identification, industry, libraries and media management, laundry, logistics, mobile & smart media, public transport, retail, and many more.
SMARTRAC is the global market leader in high-quality RFID inlays for e-Passports and contactless banking cards and holds a leading market position as supplier for public transport and library applications. SMARTRAC was founded in 2000, went public in July 2006, and trades as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs about 3,600 employees and maintains a global research and development, production, and sales network.
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