SecurityWorldMarket

26/03/2021

Tagmaster aims for market leadership with changes at the top

Stockholm, Sweden

Tagmaster’s nominating committee is proposing to expand its board members where Bernt Ingman and Magdalena Bonde are elected as new members. Bernt Ingman is proposed as new chairman of the board while the present members of the board, Rolf Norberg, Juan Vallejo, Margaretha Hagman and Gert Sviberg remain on the board as well as the company CEO, Jonas Svensson, continues as deputy.

During a ten year period Tagmaster has grown from a company with around 40 MSEK without any major profits to a company with close to 300 MSEK in sales and showing good profits for the last 8 years. This has been made possible through refocusing from a technical company with one product line (RFID for demanding applications and longer distances) to successively focus on the customers of the company and on what today is called ITS (Intelligent Transport Systems) with a wider product portfolio and increased integration of products completed with software. This has been done through major organic growth as well as through acquisitions of technology as well as market position mainly in France, UK and the US.

ITS is a fast growing market driven by urbanisation as well as by increasing environmental requirements. More efficient transport systems form the base for reduced emission from the transport sector, private and commercial traffic. Electronic and intelligent solutions based on modern sensors, new communication technology like LoRaWAN and 5G and software systems with AI (Artificial Intelligence) components are cornerstones in this development and it is also a description of the new Tagmaster offering.

Since the company now is ready, through an expansive growth plan to take the company to the next level as one of or may be even the leading actor in ITS, the timing is right for the Tagmaster nominating committee to propose a renewal and a reinforcement of the company board for the annual general meeting April 29th.

Rolf Norberg comments the proposed changes: “After 10 years on the Tagmaster board, of which 9 as its chairman it is time for renewal and we have now found a very suitable person in Bernt Ingman who has successfully been driving a few growth journeys. I therefore think it is a very good opportunity to hand over and at the same time I have been encouraged to stay as board member, which I have accepted. I hope I can continue to share my experiences to support the future expansion of Tagmaster for some time.”


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