TagMaster announces the acquisition of Free2move’s RFID operation

Stockholm, Sweden, 16 May, 2011 - TagMaster, the leading producer of advanced long-range and high-performance identification systems based on Radio Frequency Identification (RFID) today announces the acquisition of the Free2move’s RFID related business including its Malaysian-based R&D operation. Free2move RFID designs, produces and markets RFID and wireless sensor products for asset tracking, security and monitoring to the global market via a network of partners with key deployments such as in Bangkok’s Suvarnabhumi International airport.

This acquisition will broaden the TagMaster product portfolio in strategically important areas addressing market segments with high growth potential.

TagMaster is a company internationally recognized for highly reliable and technology leading products for long range identifications. TagMaster products are used in vehicle access control, people access control and rail bound traffic. TagMaster has reference installations all over the world – some of them are presented at our webpage for further information. Our products are sold over the world via an international network of partners adding value to our products.

 “Both companies share the philosophy of making RFID and sensor technology accessible to a much larger audience through ease of use, attractive pricing, reliable performance and excellent developer support. We also share the vision that RFID and sensor technology can radically increase the use of resources for efficiency purposes in resource allocation and transportation and to increase the quality of life; e.g. convenience, security and health; while at the same time assist in solving some of the major challenges the world is facing”, says Bo Tiderman CEO at TagMaster AB

“Through the acquisition, we see radically improved market opportunities for our RFID and sensor technologies and we are able to complement TagMaster’s existing portfolio in new industry applications and verticals. We both share the view that it should be easy, beneficial and straightforward to do business with us. With the combined effects at hand, we can only see major positives for our users, customers and partners in this reorganisation. The existing RFID product line will be better supported worldwide, the pace of our technology development will increase, and our capabilities to undertake large shipments and complex projects will be enhanced”, says Martin Harnevie CEO at Free2move RFID.

About TagMaster

TagMaster is a Swedish technology company founded 1994 with headquarters in Kista (Stockholm), Sweden. TagMaster designs and markets advanced long-range radio frequency identification (RFID) systems and information services associated with automatic vehicle identification, rail bound transportations and people access, in order to increase efficiency, security, convenience and to decrease environmental impact. TagMaster exports mainly to Europe, Asia and North America via global network of partners, systems integrators and distributors. TagMaster shares are traded on First North in Stockholm, Sweden. TagMaster’s Certified Adviser is Remium AB. www.tagmaster.com

For more information, please contact:
Bo Tiderman, CEO, TagMaster AB
Telephone: +46 8 632 1950
E-mail: bo.tiderman@tagmaster.com

Users, customers and partners of Free2move RFID & sensor products may also contact:
Martin Harnevie, CEO, Free2move RFID
Telephone: +60 19 3129026
E-mail: martin.harnevie@tagmaster.com

About Us

TagMaster is an application driven technology company that designs and markets advanced sensor systems and solutions based on radio & vision technology (RFID, Radar & ANPR) for demanding environments. Business areas include Traffic Solutions and Rail Solutions sold under the brands TagMaster, CitySync, Balogh, CA Traffic, Magsys and Hikob with innovative mobility solutions in order to increase efficiency, security, convenience and to decrease environmental impact within Smart Cities. TagMaster has dedicated agencies in the US and in China and exports mainly to Europe, The Middle East, Asia and North America via a global network of partners and, systems integrators. TagMaster was founded in 1994 and has its headquarters in Stockholm. TagMaster is a public company and its shares are traded on First North stock exchange in Stockholm, Sweden. TagMasters certified advisor is Erik Penser Bank AB. Please visit www.tagmaster.com

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