Smartrac completes UPM RFID transaction

Smartrac and UPM-Kymmene Corporation entered into an agreement on December 22, 2011, under which Smartrac takes over UPM RFID while UPM-Kymmene Corporation obtains an indirect economic interest in Smartrac of 10.6% via OEP Technologie B.V., a holding company controlled by One Equity Partners and one of the major shareholders of Smartrac. UPM RFID is a supplier of passive RFID products specializing in the development and high-volume production of HF, NFC, and UHF RFID tags and inlays for use in a broad range of RFID applications. UPM RFID consists of three companies located in Finland, the United States and China. As part of the integration of UPM RFID into the Smartrac Group, the subsidiaries will change their company name to Smartrac. “We are very pleased to welcome the very experienced and capable team from UPM RFID on board,” said Dr. Christian Fischer, CEO of Smartrac. “With the completion of the transaction, we are now in the excellent position to support customers with the best product portfolio, the broadest technology base, the best R&D capabilities, the largest production capacity over all frequencies, and the best team in the global RFID-industry. Together, and with our unique company spirit, we will be able to successfully shape the coming years of excellence, leadership, innovative power, and success.”