SMARTRAC signs purchase agreement to acquire business of HEI Inc.’s RFID division and will start production of RFID components in the U.S.
The Dutch company SMARTRAC N.V. (stock abbreviation SM7) announced today that it has signed a purchase agreement with the U.S. company HEI, Inc. to acquire substantially all of the assets of HEI RFID, a division of HEI, Inc. SMARTRAC intends to start local U.S. production of RFID components under SMARTRAC Technology US Inc., a Delaware company and wholly owned subsidiary with operations in Chanhassen in the U.S. state of Minnesota.
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