TagMaster close to major acquisition
Press Release, Stockholm, Sweden 25 April 2019
TagMaster, a leading supplier of advanced sensor systems for Smart Cities within Traffic and Rail, announces that the company is in final negotiations regarding a major acquisition. The purpose is to become an even more attractive supplier of real time information - a basic requirement for building the Smart Cities of the future.
TagMaster has previously announced that the company is actively working to find a major acquisition within existing and related technology areas. An acquisition will partly provide an expanded product offering, partly broadened and increased market presence.
“We work actively according to our acquisition plan in line with our growth strategy. However, no timetable or details can be communicated at present and further information will be published as soon as something is realized”, says Jonas Svensson, CEO, TagMaster.
TagMaster is today a strong and broad international player in the rapidly growing market for Intelligent Transport Systems (ITS) with a focus on solutions for Smart Cities. The company has a high level of expertise in the technologies required to create world class solutions and has a well-developed process for dealing with acquisitions.
During the past years, TagMaster has completed a total of five minor acquisitions. This means that TagMaster has solutions with all relevant technologies for Intelligent Transport Systems, ie RFID (Radio Frequency Identification), ANPR (Automatic Number Plate Recognition), Radar and Magnetic Sensors (Magnetic).
“In order to speed up the process to become a larger player in a growing market that is still very fragmented, we are involved in discussions regarding a major acquisition. This would give us access to a larger market and a new platform for sales of our existing product range in new markets, while the acquisition’s product offering can be sold in TagMaster's existing sales channels”, says Jonas Svensson.
For further information, please contact
Jonas Svensson, CEO, +46 8-6321950, jonas.svensson@tagmaster.com
About TagMaster
TagMaster is an application driven technology company that designs and markets advanced sensor systems and solutions based on radio and vision technology (RFID, Radar and 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 phone +4684638300, Email:certifiedadviser@penser.se