Smartrac to sell its Secure ID & Transactions Business to Linxens

Headquartered near Paris, France, Linxens is a designer and manufacturer of smartcard connectors, inlays and LED light sources. “What we are announcing today sets the future direction for everyone at Smartrac. As a part of the Linxens Group, our highly successful and profitable Secure ID & Transactions business will face a bright future as a leader in Payment, Access Control & Identification technologies for maximum security and customer convenience,” said Christian Uhl, Chief Executive Officer (CEO) and Chairman of the Management Board at Smartrac. “At the same time, Smartrac’s core business will be able to focus and accelerate its already successful transition into a leading provider of ready-made and customized RFID products and IoT-based solutions that enable businesses to identify, authenticate, track and complement product offerings”, Christian Uhl, continues. According to the agreement, Linxens will take over all the employees and assets assigned to Smartrac’s Secure ID & Transactions Business Division. Restricted to limited rights, Linxens will be allowed to use the Smartrac brand for the Secure ID & Transactions business for a period of up to 24 months after the sale is completed. The acquisition is subject to regulatory approval and other customary closing conditions, and is expected to be closed by the end of calendar year 2016.