big RFID acquisition

Filed in archive Venture Capital on July 27, 2004

Symbol is acquiring Matrics in one of the biggest deals in this industry so far for stunning US$ 230 million.

"The acquisition of Matrics is a significant step in executing our plan to be a leader in RFID, and expands our offerings in the advanced data capture industry," said William Nuti, Symbol president and chief executive officer. "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. By incorporating the Matrics EPC-compliant RFID products into Symbol's portfolio of industry leading mobile computing, advanced data capture and wireless technologies, Symbol can help customers in key market segments gain operational efficiencies in their supply chains and realize competitive advantage."

For more info about RFID also try our RFID Weblog.