Despite the fact that many companies are barely in the planning phases with RFID (radio frequency identification) pilots, an RFID systems company has been acquired for $238 million.
Symbol Technologies Inc. on Tuesday announced plans to acquire Matrics Inc., which designs and manufactures EPC (electronic product code)-compliant RFID systems.
The acquisition of Rockville, Md.-based Matrics expands Symbols data capture product portfolio. It also plays into the companys plans to offer more RFID-focused packages.
“We believe that in order for RFID to be deployed successfully, it needs to be deployed as a system—a system that allows customers to capture, move and manage critical information to and from the point of business activity,” William Nuti, Symbols president and CEO, said in a statement.
The company plans to incorporate Matrics RFID products into its data capture and wireless technologies. Matrics focuses primarily on the retail, defense and transportation vertical markets. Its products include fixed readers, readers designed for embedded applications—RFID printers and handhelds, for example—antennas for RFID tag reading, and EPC labels that can be attached to things such as containers, pallets and cartons.
Symbol makes software that captures, moves and manages information to and from the point of business activity, with a focus on the retail, transportation, manufacturing, wholesale and distribution verticals.
Holtsville, N.Y.-based Symbol said the acquisition, subject to approvals, is expected to close in the third quarter.