Elektrobit Corporation (EB) Acquires 7iD Technologies Gmbh to Strengthen its Wireless Sensor Solutions Business with EPCglobal Certified RFID Software Solutions
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Elektrobit Group Plc.
Press release date: June 29, 2007
Elektrobit Corporation (EB) has today purchased 100 per cent of the shares in 7iD Technologies GmbH (the Transaction). 7iD, a company specialising in RFID technology, provides services and products for system integrators and RFID companies and delivers technology and turn-key solutions for supply chain and asset management in pharmaceutical, paper, aviation and automotive industries. 7iD is an active member of EPCglobal Inc., the international organisation developing standards for Electronic Product Code (EPC) to support the use of Radio Frequency Identification (RFID). 7iD is headquartered in Graz (Austria) and employs 21 people in total.
The Transaction does not have a significant impact on EB's balance sheet or result. Besides EOSS Innovationsmanagement GmbH Investment Company, the sellers are private individuals and the parties have agreed not to publish the purchase price or other agreement terms.
The Transaction strengthens the offering of the Wireless Sensor Solutions Business Unit, which belongs to the Wireless Business Segment. The core products of 7iD are Reader and Acquisition Service software products, RFID Controllers and related application-specific edgeware software products which support and expand EB's Identification Network Architecture.
As the RFID applications become more challenging with large number of readers in a dense deployment environment, it is no longer practical to manage the readers on an individual basis. EB is now able to deliver scalable RFID networks with full EPCglobal compliance. Consequently EB provides its customers with Identification Network Architecture with distributed intelligence in both RFID readers and RFID Controllers and the Facility Sounding(TM) technology. These customers gain the abilities to reduce the traffic in the technology. These customers gain the abilities to reduce the traffic in the backbone network and to tune the RFID networks against internal or external interference.
Commenting on the acquisition, Mr. Pertti Korhonen, CEO, EB, said: "The customers in the RFID industry have an imminent need for an innovative RFID Reader Network provider who can solve problems in challenging applications from the tag reading events, through network management, all the way to interfacing with various ERP systems. EB acquiring 7iD is now on the path towards RFID networks that are not only of high performance but also easier to deploy and manage than before. 7iD products and competences fit well with our portfolio."
"We are delighted to join EB. Our software together with EB's hardware will provide a wider offering to the market", says Manfred Herrmann, CEO, 7iD.
FURTHER INFORMATION: Pertti Korhonen CEO EB Tel. +358 40 344 5148
Antti Sivula Senior Vice President EB Wireless Sensor Solutions Business Unit Tel. +358 40 843 5839
Elektrobit Corporation, EB EB creates advanced technology and turns it into enriching end-user experiences. EB is specialised in demanding embedded software and hardware solutions for automotive and wireless technologies. The net sales for the year 2006 totalled MEUR 181.5. Elektrobit Corporation is listed on OMX Helsinki. www.elektrobit.com.
7iD Technologies GmbH, 7iD 7iDTechnologies is an international RFID system integrator with wide experience in the area of modern RFID technology. 7iD, a company specialising in RFID technology, provides services and products for system integrators and RFID companies and delivers technology and turn-key solutions for supply chain and asset management in pharmaceutical, paper, aviation and automotive industries. 7iD Technologies GmbH is an active member of EPCglobal Inc., the international organisation for RFID, which confirms worldwide standards for the implementation as well as the use of RFID in different industries. www.7id.com