RFID Invest AG, an investment firm focused specifically on RFID technology, recently announced the acquisition of San Jose, CA-based InSync Software, Inc., a provider of RFID and sensor-driven application software.
"The acquisition of InSync Software is an important step in filling the application software gap in our portfolio companies," said Martin Zumbtobel, RFID Invest's Managing Director. "Customers are increasingly seeking end-to-end industry solutions which include hardware integrated with full featured application software that takes advantage of the hardware capabilities."
"InSync Software, and its RFID-as-a-service offering is truly innovative. Becoming part of the RFID Invest Portfolio provides us the opportunity to be the software application platform for all these companies and their customers. The InSync team is excited in joining the RFID Invest group of leading RFID technology companies. This is a clear recognition of the importance of application software by the market place," commented co-founders Ashish Chona and Ravi Panja.
The acquisition is expected to drive increased sales and revenue for the RFID Invest Portfolio companies by providing complete solutions to their customers and partner eco-system.
Exact details of the transaction were not disclosed.
About InSync Software, Inc.
InSync Software, Inc. provides the fabric for the world's leading RFID, GPS, and sensor-driven line-of-business software applications. InSync's renowned iApp Platform and iApp Solution Templates allow customers to rapidly develop and deploy applications to locate and track assets, improve operational efficiencies, and manage risks. InSync's software combines sensory data and enterprise information (via ERP, WMS, etc.) to actively manage assets regardless of their location.
InSync is an Intel Capital and Rustic Canyon company. InSync is headquartered in San Jose, CA, with offices in India and Asia. For more information,visit www.insyncinfo.com
About RFID Invest AG
RFID Invest AG is an investment firm based in the Principality of Liechtenstein that focuses on RFID companies with strong management teams and proven products and services that have an exceptional potential for growth. For more information,visit www.rfidinvest.eu
SOURCE: InSync Software, Inc.