;
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


Must ReadView All

Textile-garment park inaugurated in Ethiopia's Jimma

Textiles | On 15th Dec 2018

Textile-garment park inaugurated in Ethiopia's Jimma

President Omar al-Bashir of Sudan, President Ismail Omar of Djibouti...

Some trying to create unrest over wages: Bangla minister

Textiles | On 15th Dec 2018

Some trying to create unrest over wages: Bangla minister

Some people are trying to create unrest in Bangladesh over the...

India's Mufti to expand footwear retail to over 500 stores

Apparel/Garments | On 15th Dec 2018

India's Mufti to expand footwear retail to over 500 stores

Indian denim brand Mufti recently announced expansion of its footwear ...

Interviews View All

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Top executives, Fashion houses, India

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Sonia Agarwal, Whitenife

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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


December 2018

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

news category


Related Categories:

Advanced Search