ASSA ABLOY has acquired the textile services business of Invengo Information Technology Co., Ltd, a globally renowned real-time inventory management platform that combines software, RFID tags, equipment and services, to efficiently identify, track and monitor linen and textile assets.
Strategic technological acquisition
“Invengo Textile Services is a strategic technological addition to the ASSA ABLOY Group. The company reinforces our current offering within the global RFID ecosystem. The acquisition of Invengo Textile Services enhances the Group’s position within smart components and will provide complementary growth opportunities,” said Nico Delvaux, President and CEO of ASSA ABLOY.
“The addition of Invengo Textile Services to HID’s portfolio underscores our leadership position as solution enabler in the RFID market, particularly in the fast-growing commercial laundry sector,” said Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.
Invengo Textile Services (formerly Tagsys) was founded in 1993 and has some 45 employees. Based in La Ciotat, France, it will be part of HID’s Identification Technologies Business Area. Sales in 2020 amounted to about MEUR 11 (approx. MSEK 110) and the acquisition will be neutral to EPS from start.