Elektrobit acquires 7iD

7iD is an active member of EPCglobal Inc., the international organisation developing standards for Electronic Product Code (EPC) to support the use of Radio Frequency Identification (RFID). 7iD is headquartered in Graz (Austria) and employs 21 people in total. The Transaction does not have a significant impact on EB's balance sheet or result. Besides EOSS Innovationsmanagement GmbH Investment Company, the sellers are private individuals and the parties have agreed not to publish the purchase price or other agreement terms. The Transaction strengthens the offering of the Wireless Sensor Solutions Business Unit, which belongs to the Wireless Business Segment. The core products of 7iD are Reader and Acquisition Service software products, RFID Controllers and related application-specific edgeware software products which support and expand EB's Identification Network Architecture. Commenting on the acquisition, Mr. Pertti Korhonen, CEO, EB, said: "The customers in the RFID industry have an imminent need for an innovative RFID Reader Network provider who can solve problems in challenging applications from the tag reading events, through network management, all the way to interfacing with various ERP systems. EB acquiring 7iD is now on the path towards RFID networks that are not only of high performance but also easier to deploy and manage than before. 7iD products and competences fit well with our portfolio."