Smartrac Technology Group, an RFID technology and IoT solutions provider, has reached a definitive agreement to sell its RFID Transponder Division to Avery Dennison Corporation, a materials science and manufacturing company. Its products include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical and retail applications; tags, and RFID solutions serving retail apparel and other markets.
Smartrac's RFID inlay and tags business will complement Avery Dennison’s Intelligent Labels platform, expand its existing product portfolio, enhance the company’s R&D, manufacturing and sales capacity and increase its RFID offerings for a broad variety of customer requirements and applications. The transaction will also provide the opportunity to expand market coverage and to accelerate RFID growth opportunities.
The capabilities of Smartrac will enable Avery Dennison to accelerate their strategy and deliver on this vision across multiple verticals. As part of the transaction, Avery Dennison will acquire Smartrac’s Transponder business and associated assets, including all manufacturing, R&D, sales and administration facilities, and will take over all affected employees. Avery Dennison will also assume all contractual obligations to employees, customers and suppliers. The acquisition is subject to regulatory approvals and other customary closing conditions. On the other hand, Smartrac’s Business Division will continue to serve independently to support the digital transformation.
