SecurityWorldMarket

26/04/2019

Tagmaster positions to make major acquisition

Stockholm, Sweden

Tagmaster has announced 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 realised”, 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.


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