News
Smartrac to sell its Secure ID & Transactions Business to Linxens
November 2016 by Marc Jacob
RFID and IoT pacesetter Smartrac 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.
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.
