Sirit Completes Acquisition of SAMSys' Assets

April 14, 2006
RFID technology provider finishes acquisition of competitor

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."