SOURCE: Neology, Inc.

Leading RFID Through Inovation

July 08, 2015 09:00 ET

Neology to Acquire Remaining 20% Interest in Controles Electromecanicos

SAN DIEGO, CA--(Marketwired - July 08, 2015) - Neology, a leader in secure high-value Radio Frequency Identification (RFID) solutions and a subsidiary of RFID industry pacesetter SMARTRAC Technology Group, announced the acquisition of the remaining 20% interest of Controles Electromecánicos.

The acquisition is a decisive step forward in Neology's strategy to attain or extend a position as a market and innovation leader in the tolling industry all over South and North America.

Marcos Wainstein Tapia, CEO of Controles Electromecánicos, said: "More than ever we will create value in the core tolling market as well as penetrate and become leaders in new markets. By consolidating Neology's and Controles' strengths, we will further solidify the already strong foundation laid by toll systems integration, installation and maintenance, and together we will definitely be able to set new standards."

Antonio Caballero, General Manager of Neology in Mexico, said: "With the full acquisition of Controles, Neology continues to show a solid and congruent growth, expansion, and diversification strategy that will additionally consolidate Neology's tolling assets in Mexico and Latin America and increase our regional footprint. Our joined teams will greatly maximize the potential for innovation and leadership in both the RFID and tolling industries."

Bright Prospects for Neology’s Future

Francisco Martinez de Velasco, CEO of Neology, summarized: "With only 3 years in the tolling market, Neology is now a significant player to be considered in North America. With innovation, high performance products and the ability to address specific customers' needs, Neology’s products and solutions encountered tremendous acceptance. We are currently experiencing a previously unknown adoption of tolling solutions providing bright prospects for our company's future. I would like to congratulate the whole team that developed the strategy and finally executed the acquisition of the remaining 20% interest of Controles!"

Christian Uhl, CEO of SMARTRAC Technology Group also appreciated the acquisition: "We truly welcome the Controles Electromecánicos team as part of our Group. Controles is a perfect fit for our commitment to deliver state-of-the-art technology and innovation to the market."

About Neology:

Being a fully-owned subsidiary of SMARTRAC, Neology is a leading provider of integrated solutions for the tolling, electronic vehicle registration (EVR) and public safety markets. The company is a pioneer and leader in the development of passive RFID technology owning some of the earliest and most significant intellectual property (IP) in the industry. SMARTRAC is the leading developer, manufacturer and supplier of RFID products and services suitable for a large number of applications. For more information please visit www.neology-rfid.com and www.smartrac-group.com.

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