InSync Software, a sensor-based application software and RFID vendor in San Jose, California, has been acquired by investment firm RFID Invest AG.
RFID Invest, which focuses on the RFID technology, is likely to benefit from this acquisition by way of increased sales and revenue. Through the acquisition, the companies in the RFID Invest portfolio are likely to offer total solutions for their customers as well as to their eco-system partners.
InSync Software’s co-founders Ravi Panja and Ashish Chona informed that the acquisition highlights the significance accorded to the application software in the market place. He said that his team is thrilled to be part of the leading RFID technology companies group of RFID Invest. He added that this would enable his company to emerge as the software application provider for these group companies along with their customers.
Martin Zumbtobel, Managing Director of RFID Invest, informed that the acquisition is a major step towards closing the application software gap in the portfolio companies of the group. He explained that customers are increasingly demanding end-to-end solutions. These solutions include a hardware that is completely integrated with application software for leveraging the capabilities of the hardware.