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© ginasanders dreamstime.com Business | July 20, 2017

3M sells Tolling & Automated License/Number Plate recognition business

3M has completed the sale of its tolling and automated license/number plate recognition business to Neology, Inc, a subsidiary of Smartrac.
The tolling and automated license/number plate recognition business is a provider of tolling and automated license/number plate recognition solutions. Its tolling solutions include RFID readers and tags, automatic vehicle classification systems, lane controller and host software, and back office software and services. It also provides mobile and fixed cameras, software, and services in automated license/number plate recognition. The business has annual global sales of approximately USD 40 million.

The tolling and automated license/number plate recognition business was part of 3M’s Transportation Safety Division, within the Safety & Graphics business.

Approximately 75 employees are expected to join Neology.

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December 04 2017 9:30 PM V8.9.2-2