Home / Knowledge / News / Information Technology / Acquisition of RSI ID Technologies complete

Acquisition of RSI ID Technologies complete

04
Apr '08
Sirit Inc a leading provider of radio frequency identification (“RFID”) technology, is pleased to confirm that it has completed its acquisition of RSI ID Technologies Inc (“RSI”).

RSI is an industry leading, vertically integrated manufacturer of antennas, inlays and tags for specialized, passive RFID applications.

In accordance with the terms of the agreement announced on March 4, 2008, the deal has been structured as an all stock transaction with an initial payment of 10 million Sirit Common Shares plus additional shares to be issued over a 21 month period based on achieving certain financial targets.

The transaction has received all requisite regulatory approvals including that of the Toronto Stock Exchange. “We are very excited to have executed this acquisition as planned and to have the RSI team officially join Sirit.

We will now focus our combined strength on providing our complete end-to-end solution to new and current customers, such as our recently announced partnership with 3M, as well as targeting key markets worldwide, including electronic vehicle identification.” noted Norbert Dawalibi, President and CEO, Sirit Inc.

Mr. Wolf Bielas will remain as CEO of RSI located in Chula Vista, California.

Sirit Inc


Interviews View All

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Top executives, Textile industry

Top executives
Textile industry

RoSCTL is need of the hour

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Luca Formentini,

Luca Formentini

From the very beginning, Loris Bellini's aim was to produce dyeing...

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

Fabio Grandis,

Fabio Grandis

Italian company Grandis SRL has been operating in the textile industry for ...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search