TORONTO-Sirit Inc., a Toronto-based provider of radio frequency identification (RFID) technology, has entered into a definitive agreement to acquire RSI ID Technologies Inc. (RSI, San Diego, CA), a vertically integrated manufacturer of antennas, inlays and tags for specialized, passive RFID applications.
The combination of Sirit’s range of readers and modules with RSI’s suite of RFID antenna design and inlay manufacturing capabilities enables the offering of more complete end-to-end solutions.
“This deal represents a key strategic growth opportunity for Sirit, building upon our readers and specialized active tag product offerings. The combination with RSI will assist us to attain our goals of increasing revenue, strengthening of our intellectual property portfolio and expanding our geographic presence,” explains Norbert Dawalibi, president and CEO, Sirit Inc.
“Sirit is a perfect fit for RSI to reach its next stage of growth,” adds Wolf Bielas, CEO, RSI ID Technologies Inc. “We evaluated many opportunities for both investment and strategic partnerships in the RFID space. Sirit’s strategy and product offering resulted in the best fit and highest growth opportunity for both companies and we at RSI are very excited to join the Sirit team.”
Sirit Acquire RSI ID
March 11, 2008