The deal will provide UPM indirectly with a 10.6% stake in the Netherlands-based Smartrac.
“Becoming part of the leading player in the RFID industry opens up totally new possibilities for us,” says Marcus Vaenerberg, senior vice president at UPM RFID. “I am convinced that this new setup will be a strong player in the growing RFID market place, ready to offer support and solutions to customers around the world.”
“UPM RFID is a true pioneer in the global RFID tags and inlay business,” explains Smartrac CEO Dr Christian Fischer. “We are delighted to add such an experienced and capable crew to our global team. The transaction will provide us with a strong product offering for NFC and UHF RFID tags and inlays and will furnish us with favorable additional manufacturing capacities in strategically important markets.”