SMARTRAC has taken a 75 percent stake in Sokymat Automotive following a deal with Sokymat owners, The Swatch Group. For SMARTRAC, the acquisition will open up additional growth opportunities enabling access into the market of RFID components for the automotive industry where Sokymat Automotive holds a strong market position.

Sokymat also produces RFID inlays and discs that are applied in manufacturing industries, logistics, laundry, animal identification and science applications. As a result of the acquisition, a new platform will be created on which to accelerate the existing industrial and logistics business of SMARTRAC by combining it with the respective business lines of Sokymat Automotive.

Sokymat Automotive and SMARTRAC say they have very similar positions in the global RFID value chain. Thus, the acquisition will not create any channel conflicts. The long-term expertise of Sokymat Automotive in the low frequency RFID transponder production including own machinery building capabilities and proprietary know-how are expected to contribute to strengthening SMARTRAC’s technology base. Synergies are also expected to come from joint research and development activities.

Manfred Rietzler, Chief Technical Officer of SMARTRAC, has purchased the remaining 25 percent of the shares.

Sokymat Automotive and its 75 employees will continue their profitable activity in Reichshof-Wehnrath under the new ownership.