Paragon ID : Paragon ID acquires a controlling interest in Apitrak, reinforcing its leadership in Asset Tracking and Real-Time Location Systems

Paragon ID (Euronext Paris - FR0013318813 - PID), leading provider of identification solutions for Transport & Smart Cities, e-ID, Traceability, Brand Protection and Payment, announces its acquisition of a controlling interest in Apitrak, a French start-up specialising in Real-Time Location Systems (RTLS) using a wide range of data acquisition technologies including active & passive RFID, Bluetooth Low Energy (BLE), Wi-Fi and GPS.

Having already established itself as the market leader in the UK hospital sector for locating equipment and people within the hospitals of the National Health Service, through its RFiD Discovery solution and having succeeded in also deploying it in several major industrial installations, Paragon ID continues to expand the reach of its RTLS offering with the acquisition of Apitrak in France.

Founded in 2016, Apitrak commenced its relationship with Paragon ID last year, with the signature of a technological and commercial agreement to jointly develop and propose cloud-based RTLS solutions (read press release May 28, 2020). Over the course of the last twelve months, this partnership has resulted in the successful deployment of multiple installations combining the best features of RFiD Discovery and Apitrak. The “multi-technology” location-tracking IoT platform has been adopted in medical and industrial environments including manufacturing and logistics businesses, both in the UK and in France.

Clem Garvey, CEO, Paragon ID comments: “We are delighted to welcome the Apitrak team to Paragon ID. Our partnership, born in May 2020, got off to a flying start with the signature of several contracts in Summer 2020, including deployments to track movement of ventilators in Covid-19 wards. Apitrak and Paragon ID have since deployed solutions in industrial environments and have successfully responded to public tenders. This acquisition builds upon the outstanding success of the RFiD Discovery platform and represents a step-change in realising our ambition to become an international leader in RTLS solutions.

Vincent Lê, CEO, Apitrak adds: “This past year has been very rewarding, and we have greatly appreciated the work we have done with the Paragon ID teams, particularly on the development of cutting-edge tracking solutions for clients with a wide variety of issues and needs. It seems natural for us after this year of collaboration to join Paragon ID and continue our work together with the goal of bringing new technological advances to our customers in asset and inventory tracking, as well as people protection applications. "

About Apitrak
Based on proprietary software, and integrating cutting-edge geolocation technologies, Apitrak builds enterprise solutions to bring business value to its clients with simplicity as a core value. Hospitals and companies use the web based Apitrak Platform to track assets, secure assets, manage inventory, secure staff and monitor temperature.
For further information about Apitrak, visit apitrak.com.

About Paragon ID
Paragon ID is a leader in identification solutions, in particular in the e-ID, Transport & Smart Cities, Traceability & Brand Protection and Payment sectors.
Paragon ID employs more than 500 staff, with manufacturing sites in US and Europe, close to its customers.
Paragon ID is listed on Euronext Paris with a majority of its shares being held by Paragon Group, a leading provider of Customer Communications. Identification solutions and Graphic services. Paragon Group is present in more than 20 countries with more than 9,000 employees around the world and achieved consolidated sales of € 1.1 billion at the end of the 2019/20 financial year (closed June 30, 2020), recording a growth of 29%. For further information about Paragon Group, visit Paragon-europe.com.
Euronext Paris - Share identification: Paragon ID - ISIN Code: FR0013318813 - Mnemonic code: PID.
For further information about Paragon ID, visit Paragon-id.com.

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Source Actusnews