RFID technology provider Sirit Inc. has completed the acquisition of SAMSys Technologies, a company also positioned in the RFID marketplace.
The acquisition saw Sirit pay $4 million; and included the acquisition of SAMSys' assets, including cash reservers of approximately $2.5 million.
According to an announcement from the company, Sirit will now be focused on integrating the two company's operations so that the SAMSys customers get a seamless transition and that customer's of both companies see an expanding service offering. Also in the works is a new product platform.
Norbert Dawalibi, President and CEO, Sirit Inc., said the acquisition is just one step "in our overall strategy to strengthen Sirit's presence in the global RFID market."