Invengo extends its global footprint and product development capabilities in high value-added markets providing outstanding growth potential such as textile professional rental services, healthcare and medical tracking solutions, as well as manufacturing and logistics segments through the acquisition.

Invengo has acquired the textile services business from Tagsys featuring leading RFID tags, innovative, fully integrated, scalable linen inventory visibility, management IoT platform called Acuity, specifically designed to provide digital analytics and services to laundry groups and their clients. Invengo takes over divisions, including operational, commercial and R&D personnel, which will serve to strengthen Invengo's European presence and global talent pool.

“It is an exciting time for Invengo as this acquisition launches us into new markets with tremendous potential for innovative and robust RFID technology, specifically in the healthcare and hospitality textile services fields. In addition to our already strong position in RFID Services for the library, railway and retail verticals, it further enhances our offering and expertise in specialized RFID tag products. The acquisition of Tagsys' Textile Services and Legacy RFID tag business brings valuable resources and new talents to our global business and we are very excited about these European and Global expansion opportunities,” said Jiann Hsieh, CEO of Invengo International.

“We are beyond excitement to join Invengo. We have a long history of designing and deploying innovative and rugged solutions for complex environments such as the industrial laundry markets. Invengo's significant design and manufacturing capacities will spearhead our industry leadership, long-term track record of consistent product innovation and durability, and growth opportunities,” said Richard Bailly, president textile and custom application services. (NA)

Fibre2fashion News Desk - India