GlobeNewswire
2010-11-02
Acquisition Further Strengthens Core RFID Technology, Expands
UHF Product Line and Adds Manufacturing Capacity
SANTA ANA, Calif., ISMANING, Germany and SINGAPORE, Nov. 1, 2010 (GLOBE
NEWSWIRE) -- Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV), a
provider of products, services and solutions for the security,
identification and RFID industries, today announced that it has entered
into an agreement with the France-based Group FCI SA to acquire FCI's
Smartag subsidiary, a Singapore-based manufacturer of RFID inlays and
inlay applications, as well as an associated portfolio of RFID and
related patents and other intellectual property. The transaction is
expected to close during November 2010, subject to customary closing
terms and conditions.
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.
"Smartag is a perfect fit for Identive; it complements our
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
our group," said Ayman S. Ashour, chairman and chief executive officer
of Identive Group. "Having two manufacturing sites in different key
markets gives us additional flexibility and the increased capacity will
also help fuel our growth in emerging technologies such as RFID-based
cashless payments, where our solutions are experiencing rapid growth."
"We are pleased with this announcement, which will position Smartag in
the right context for executing on its growth strategy. We believe that
Identive is a very good partner with a strong RFID expertise and focus
which will enable Smartag to develop its full potential," said
Christophe Duverne, corporate vice president and general manager of FCI
Microconnections. "We wish the Smartag team success with this next step
in their development."
"We are excited to join the Identive Group, which has a strong focus on
the RFID industry. We have known the Identive team for many years and
are pleased to be joining them as colleagues," said Tian Siong Lian,
co-founder of Smartag. "I take the opportunity to thank the FCI group
which was very supportive during the last three years and gave Smartag
a global exposure."
About Identive Group
Identive Group, Inc. (Nasdaq:INVE) (Frankfurt: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.
The Identive Group, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8072
About FCI
With operations in 30 countries, FCI is a leading manufacturer of
connectors. Our 13,600 employees are committed to providing customers
with high-quality, innovative products for a wide range of consumer and
industrial applications. For more information visit: www.fci.com.
About Smartag
Smartag is a leading producer of HF and UHF RFID inlays and smart tags.
The company is specialized in the production of customized and
form-adapted inlays used for labeling high value and security relevant
goods.
For additional information visit: www.smartag.sg.
CONTACT: Identive Group, Inc.
Darby Dye
+1 949 553-4251
ddye@identive-group.com
Fabien Nestmann
+49 89 9595 5544
fnestmann@identive-group.com
Allen & Caron
Investors
Rudy Barrio
+1 212 691 8087
r.barrio@allencaron.com
Media
Len Hall
+1 949 474 4300
len@allencaron.com